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Market Facts — December 7, 2005

Petroleum Spreads Are Signal, Inventory Is Noise The weekly focus on petroleum inventory data is misplaced. The industry spreads, an admittedly more arcane set of data, provide the signal on which we should focus. These are still supportive of high petroleum prices.

Open Petroleum Spreads Are Signal, Inventory Is Noise
The weekly focus on petroleum inventory data is misplaced. The industry spreads, an admittedly more arcane set of data, provide the signal on which we should focus. These are still supportive of high petroleum prices.