june 2000 highlights overview renewed strength in world oil prices following a short lived slump april and dramatic rally domestic natural gas response to weak storage injection performance general worries about near term supplies has prompted us sharply increase expected levels for energy the given our expectations growth demand supply price adjustment this outlook is shift level not move away from conviction that should trend downward current by year end meanwhile as higher crude have intervened generally low inventories resulted some greater than tightness gasoline markets particularly midwest we now recognize hopes an early peak pump way of continued increases possibly july possibility surprisingly strong electricity so far may be followed robust summer enhanced concerns keeping up with during season wide swings
