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Strategies & Market Trends : Guidance and Visibility

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To: Jerry Olson who wrote (16257)	9/14/2001 1:25:30 PM
From: Teri Garner	of 208838

Crude Oil Rises on Concern U.S. Response Will Affect Oil States By Thomas Tugendhat London, Sept. 14 (Bloomberg) -- Crude oil jumped more than 5 percent, nearing $30 a barrel, on concern U.S. retaliation to this week's terrorist attacks in New York and Washington will disrupt oil supplies from the Middle East. President George W. Bush promised to find and punish those responsible, and U.S. officials blamed Saudi-born Osama bin Laden, who is exiled in Afghanistan. While OPEC has said it would continue oil sales, traders are concerned a U.S. response targeting the Middle East may spark unrest and disrupt shipments from a region that pumps a third of the world's oil. ``People are terrified of a large military campaign in the (Persian) Gulf,'' said Julian Lee, senior energy analyst at the Centre for Global Energy Studies in London. ``If America mishandles this situation, the consequences for all of us will be unthinkable.'' quote.bloomberg.com

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