The Energy Report for Tuesday, December 29, 2008

Trying to Matter

By Phil Flynn
29 December 2008 @ 09:50 am EDT

It cannot be ignored. Looking ahead to 2009 trading in energy just got a whole lot more interesting. Now we get two weekly supply reports for the price of one. Day traders and short term traders rejoice as a big announcement from the American Petroleum Institute about their weekly supply report will present the marketplace with twice the risk and twice the opportunity. The American Petroleum Institute has decided to take a big step into the past and try to become relevant again by releasing its weekly report on oil inventories and production on Tuesday afternoons next month. That is a day before the similar report by the U.S. Department of Energy. Why have they taken this step? Well I am not sure but it could be a desperate attempt to get noticed. No one really pays attention to the API supply report but now all that changes.

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