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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Tomas who wrote (20051)	3/11/2003 10:47:39 AM
From: Tomas	Read Replies (1) of 206178

Banc of America Raises 2003 Gas and Oil Forecasts By Margot Habiby New York, March 11 (Bloomberg) -- Banc of America Securities raised its 2003 natural gas price forecast by 12 percent to $4.60 per thousand cubic feet and its oil price forecast by 11 percent to $26 a barrel. A colder-than-normal U.S. winter, high oil prices and limited drilling have led to ``significant'' withdrawals from natural gas in storage, Banc of America analyst Tyler Dann said. He raised the gas forecast from $4.10 per thousand cubic feet. Dann raised his full-year 2003 oil price forecast from $23.50 a barrel, saying the cold U.S. winter, military-related demand, nuclear outages in Japan and the oil-workers strike in Venezuela combined to boost the fair value of oil to more than $30 a barrel by the end of January.

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