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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

+0.6%

Nov 28 4:00 PM EST

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To: HairBall who wrote (82930)	3/28/2002 4:18:49 PM
From: thestockrider	of 99985

Military Fuel Buying Up for Mideast Bases Mon Mar 25,12:54 PM ET By Richard Valdmanis NEW YORK (Reuters) - The U.S. military, the world's largest purchaser of petroleum, is buying oil at rates not seen since the Persian Gulf War (news - web sites) as it apparently seeks to fuel the Bush administration's fight against terrorism. The Pentagon (news - web sites) has tendered for some 7.4 million barrels of fuel above and beyond normal contracts for its Mideast bases over the past three months, according to the Department of Defense (news - web sites) (DOD). This mimics emergency buys made after Iraq invaded Kuwait in 1990 and dwarfs supplemental purchases during the NATO (news - web sites) air wars against Serbia in 1999. The U.S. military's big appetite for oil, which has underpinned strong petroleum prices in recent weeks, has intensified speculation that the United States may broaden its fight against terrorism beyond Afghanistan (news - web sites), possibly to Iraq, as tensions continue to boil in the region... also Message 17238039 Message 17221474 Message 17041236

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