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Monday, July 31, 2006

Valero LP headlines are hitting the tape...Looks like earnings were in line and no distribution increase this quarter which is a bit disappointing but the company remains very upbeat about the second half. It is saying it expect q3 results to be similar to Q2 with the negative overhang due to scheduled turnarounds at refineries and maintience. So a mixed bag in my view...we'll see how the markets take it. A few pre-open trades have just crossed even with the close Friday.

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