UPDATES ON AUG 19 2008

AUG 19 TUESDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 4910, S2 RS 4860

R1 RS 4980, R2 RS 5035

Crude Oil Falls a Fourth Day as Storm May Miss U.S. Gulf Fields .

Crude oil fell for a fourth day in New York on forecasts

Tropical Storm Fay will miss rigs and platforms in the

Gulf of Mexico, which accounts for about a fifth of

U.S. production.

Crude oil for September delivery fell as much as $1.11, or 1 percent,

to $111.76 a barrel on the New York Mercantile Exchange, and

traded at $112.02 at 12:11 p.m. Singapore time. Yesterday,

the contract dropped 90 cents, or 0.8 percent, to settle at

$112.87 a barrel. Futures touched $111.34 a barrel on Aug. 15,

a 15-week low. Prices are up 57 percent from a year ago.

Prices have declined 23 percent from the record $147.27 a barrel

reached on July 11 as the dollar rose for a fifth week against the

euro and the Organization of Petroleum Exporting Countries

warned of risks to demand from slower global growth.

U.S. crude-oil inventories probably increased last week as

shipments arrive that were delayed by Tropical Storm

Edouard, a Bloomberg News survey of analysts showed.

Inventories of crude oil probably rose 1 million barrels in the

week ended Aug. 15 from 296.5 million, according to the

median of responses by seven analysts before an Energy

Department report this week. Five forecast an increase

and two said there was a decline.

Brent crude oil for October settlement fell as much as 94 cents,

or 0.8 percent, to $111 a barrel on London's ICE Futures

Europe exchange. It was at $111.15 a barrel at 12:05 p.m.

Singapore time. The contract declined 61 cents, or

0.5 percent, to close at $111.94 a barrel yesterday.