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Gold/Mining/Energy : Games Trader

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To: John Paquet who wrote (1161)	9/14/1999 7:28:00 PM
From: goldsnow	Read Replies (2) of 1239

Oil back down to below that $24.00, oil index down down here you go goldsnow>>>> Other traders also said today's price drop may only be a temporary pause in the rally. ``Longer term, we still have higher to go -- up to $26 a barrel,' said Tom Pena, oil and gas analyst at ED&F Man International in New York. New York oil prices have more than doubled from December's 12-year low of $10.35 a barrel. The rally is mostly due to production cutbacks from the Organization of Petroleum Exporting Countries. No Surprises Oil ministers from Saudi Arabia, Iran and Algeria issued a joint statement from a meeting in Jeddah, Saudi Arabia, yesterday saying that oil production cuts should stay in place until the end of March. The statement followed similar promises from other ministers, indicating that there'll be no surprises in oil policy when OPEC meets next week in Vienna. quote.bloomberg.com

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