Oil prices fall past US$126 a barrel, mercantile exchange, analyst

Описание: (23 Jul 2008) SHOTLIST
FILE New York City, Date unknown
1. Wide pan of mercantile exchange
2. Tight shot of traders
New York City, July 23, 2008
3. SOUNDBITE (English) Mike Theesfeld, independent oil trader:
"I think there was a little uncertainty about what was going to happen in the gulf and I think what happened in the gulf this week underlies that can come about if there is something that occurs in the gulf with storms and things like that. We had a supply number come out today that was quite bearish and the market responded accordingly as is kind of continuing this downward momentum that we've seen."
FILE New York City, Date unknown
4. Tight shot of traders
New York City, July 23, 2008
5. SOUNDBITE (English) Mike Theesfeld, independent oil trader:
"The consumer sentiment and things like that are underlying the fact that we are driving less, that we're consuming less. People are scared by four dollar a gallon gasoline and 140 dollar a barrel crude. We've seen builds in the products in the last few weeks. We've seen demand go down and to me those things there fundamentally should define a draw down in prices."
FILE Parshall, ND May 2, 2008
6. Tilt down of oil rig
7. Tight shot of oil rig
New York City, July 23, 2008
8. SOUNDBITE (ENGLISH): Mike Theesfeld, independent oil trader:
"It's not going to happen over the summer because there is so much fear that there could be a price run-up that's the reason I think we won't see three dollars a gallon at the pump this Summer. We might not see three dollars a gallon of gas because when the Summer ends and if it doesn't get there what's the next argument for support? Well, we have the Fall driving season, the Fall holiday driving season. The Thanksgiving holiday, then it's the Christmas holiday. There's always reasons they can drum up some sort of support that there's going to be this demand and that prices have to stay high."
FILE Parshall, ND May 2, 2008
9. Tight shot of oil rig
10. Tight shot of oil rig
FILE Location and Date Unknown
11. Wide shot of gas station
12. Mobil gas station price listing
13. Medium shot of man at the gas pump
STORYLINE:
Stocks were mostly higher in the US on Wednesday as another decline in oil prices eased some of Wall Street's concerns about the economy.
Mike Theesfeld an independent oil trader at the New York Mercantile Exchange says hurricane Dolly in the Gulf of Mexico and other supply concerns that haven't come to fruition led to oil's continued drop today.
"I think there was a little uncertainty about what was going to happen in the gulf and I think what happened in the gulf this week underlies that can come about if there is something that occurs in the gulf with storms and things like that. We had a supply number come out today that was quite bearish and the market responded accordingly as is kind of continuing this downward momentum that we've seen," Theesfeld said.
Investors believe that a sustained easing of oil prices could give a crucial boost to the economy.
Crude has retreated as Hurricane Dolly looked likely to spare key oil installations in the Gulf of Mexico and after the government reported Wednesday that domestic inventories increased last week as consumers curbed their energy use.
But oil came off its lows and stocks pared their gains after the hurricane strengthened to a Category 2 storm.
Still, oil is down more than $20 since hitting a record above $147 just weeks ago. A barrel of light, sweet crude fell $1.56 to $126.86 on New York Mercantile Exchange.

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