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Strategies & Market Trends : games trader group

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To: John Paquet who wrote (361)2/2/2000 11:52:00 AM
From: goldsnow   of 507
 
Inventories are down 18 percent since April, when the OPEC-
led coalition moved to eliminate a worldwide glut. Oil rose as
high as $29.95 a barrel last month because of the supply
shortfall, and the 10.4 million-barrel drop in yesterday's report
could send prices back toward that nine-year high, traders said.
``I'd have to say they're pretty supportive numbers,' said
Chris Schachte, an analyst at GSC Energy Corp. in Atlanta. ``I
don't know if we'll see $30 a barrel today, but I'd be surprised
if they didn't take another run at it.'

quote.bloomberg.com
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