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Gold/Mining/Energy : Games Trader

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To: John Paquet who wrote (851)	6/30/1999 6:30:00 PM
From: goldsnow	of 1239

NEW YORK, June 30 (Reuters) - Bullish U.S. oil inventory data sent oil prices to 19-month highs on Wednesday and the gains provided underlying support to energy sector shares. Speculators continued to add on ''long'' or bought futures positions, sending August crude on the New York Mercantile Exchange soaring to settle 85 cents higher at $19.29, just off the day's $19.37 high. Prices have not hit these levels since November 26, 1997. Refined petroleum products also had a spectacular showing. July gasoline and heating oil expired 1.81 and 2.08 cents higher at 55.62 and 47.90 cents a gallon respectively while their new front-month, August, won gains of about 2.50 cents. ''The market is rewarding OPEC for its resolve,'' said John Killduff, senior vice president of energy risk management at Fimat in New York. He also said $20 oil could be reached soon. infoseek.go.com I am Raising Velvet 12 month target to 8.50 Maintain XTO at 21 Revise PZE to 24 Initiate NYSE FGI as Strong Urgent Buy-near-term target US $18, medium-term 6-12 month $32

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