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: Roebear who wrote (50014)	8/29/1999 11:19:00 AM
From: Gary Burton	Read Replies (5) of 95453

Just back from vacation-reading back info, my intuition is that everyone's going to be talking about the price band coming into effect 'soon'. Ven suggests 16-20 brent to start with. My hunch is that the market will now begin to adjust for the 'inevitability' of a band and therefore begin to ratchet down the nymex price towards 18-20 area and show little incentive for the futures to exceed 22ish--ie the psychology will now switch to 'flat' oil prices rather than a continuing rise. In the short run, it will likely cap the upward momentum of osx and ep stocks, as the rising price part of the equation will have been taken away along with the sex appeal.my 2c

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