Oil & Gas Price Economics Message Board

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Gold/Mining/Energy : Oil & Gas Price Economics

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To: Rod Copeland who wrote (103)	4/28/1999 10:37:00 PM
From: Ed Ajootian	of 350

From Prudential's Ralph Acompara, on the price of oil per barrel 4/28/99 on the foward price of crude oil Crude oil ($18.00 basis the June Futures contract) has satisfied our secondary objective at $18.23 and appears in the process of consolidatating the most recent runup. Last thursdays interday peak of $18.22 is anticipated to continue to contain near-term . rally attempts. We continue to look for a $17.00-$18.23 range over the short-term Secondary near-term support is now seen at $16.24 major support at $14.13. The long- term trend remains positive with higher targets attainable in the $20.00 $20.80 range. ************************************************************** Congrats buddy, you're back in the black! If oil really does get to $20 I would hedge the hell out of your forward production if I were you.

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