Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: drsvelte who wrote (46116)	6/8/1999 9:35:00 PM
From: BigBull	Read Replies (1) of 95453

Drsvelte, I am assuming Empire's estimate for a draw of 20 million barrels is for gasoline. Care to venture how this would translate into crude draws? Clearly, anything over 330 million barrels will not translate into sustained prices above $18 WTI. We are close, though. Hey, don't get me wrong $17.5 is great, but apparently not enough to drive the OSX AT THIS TIME. His option position indicates that he does not see prices over $20 WTI until June expiry, but he does see them over $18. This would make me and OPEC - verrry happy. I guess I'm just getting a bit frustrated that US supplies haven't been able to crack that 330 number. I'll mark June 14 on my calendar, and thanks for your response. PermaBull I'm not. I bought in November and December and did a good bit of selling on the last run up. I will sell heavily on the next run up - if we get it.

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