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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Crimson Ghost who wrote (55123)11/21/1999 9:57:00 AM
From: Think4Yourself  Read Replies (1) of 95453
 
George, I tend to agree with Don Coxe at the moment. As Big Bull has pointed out many times, Asian demand is kicking butt. They are also having a cold winter in Europe. The combination is exacerbating the drop in oil stocks worldwide. This is driving up crude prices, but Refiners are having trouble passing on the increases in products fast enough. This is hurting their margins and slowing the inevitable inflation effect.

Meanwhile we are having unusually warm weather here in the US. This is driving down NG prices because heating is one of it's primary uses. It is also decreasing the world oil stocks due to the higher burn rate of gasoline. I am amazed at the discrepancy between NG and crude prices. Given the price of oil, NG prices should be much closer to $4.

All those (rather obvious)observations being noted, I suspect NG prices will skyrocket soon as the first winter storms hit. Never bought futures before even though account set up to do so. Am thinking of buying Jan NG futures next week.
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