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Strategies & Market Trends : games trader group
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To: John Paquet who wrote (171)10/12/1999 2:23:00 PM
From: goldsnow   of 507
 
``Everybody has stopped selling,' said Tim Evans, an
analyst at Pegasus Econometric Group in New York. ``You've got to
be confident in these long-term forecasts that heating oil stocks
will drop once we get into winter.'

Crude oil for November delivery rose as much as 89 cents, or
4.2 percent, to $22.16 a barrel on the New York Mercantile
Exchange, the biggest one-day gain since June 30. Even with this
week's 6 percent gain, prices are down 12 percent from a 2 1/2-
year high of $25.12 on Sept. 29.

In London, November Brent crude rose as much as 64 cents to
$21.87 a barrel on the International Petroleum Exchange.

Global crude oil demand will rise to 77.2 million barrels a
day in the fourth quarter, the IEA said. Germany is expected to
step up buying of heating oil to rebuild inventories for winter
after an energy tax increase in April stalled purchases, the
agency said.

quote.bloomberg.com
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