From: Barrett, Paul S
Sent: Tuesday, February 7, 2012 5:26 PM
To: Jeffrey Epstein
Cc: Giuffrida, David
Subject: Oil
&nb=p; =nbsp; &nb=p; =nbsp; &nb=p; &nb=p; &n=sp; Front Month
Contract (Brent &#=211; WTI [$)) 2 year chart
WTI underper=ormance related to;
&mid=ot; &n=sp; Stockpiles at=Cushing have also grown over the two weeks to January 27 to top 30 million=barrels
for the first time since December, snapping five straight weeks of=declines.
• &nbs=; Speculation of Seawa= reversal delays. While the Seaway pipeline should start draining =upplies from the
Midwest in the second half of this year, traders have bee= moving to fill the storage tanks at Cushing in
anticipation.=/o:p>
• &nb=p; Shipments down the 190,000 bpd Spearhe=d pipeline from near Chicago to Cushing are set to operate at
full capacit= for the first time in months in February.
=OD
=OA
=OA
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