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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Roebear who wrote (61748)3/7/2000 9:02:00 PM
From: JungleInvestor  Read Replies (2) of 95453
 
Following is from the Greywolf site (BTW, the date is not July but March 7):

07/03 THE USA - BACKTRACKING?

The US is working with oil-producing countries to help achieve "stable oil prices that aren't too high," President Bill Clinton said today. In a press briefing at the White House, Clinton said that goal was what the US wanted and was "what the oil-producing countries should want."

This sounds a hell of lot like a back-off.

07/03 IRAN - REDUCTIONS PAST Q2

The Iranian Oil Minister Bijan Zanganeh is set to tour the middle east on the weekend with the intent to rally support for keeping the reductions past Q2. Countrys on the visit list are Oman and the UAE. This according to diplomatic sources in the gulf region. Well this is price positive!

07/03 OIL - BRENT ABOVE $30 IN LONDON

A few factors today that are driving the price are;

NIGERIA - there is an oil strike ongoing in the country. Royal Dutch/Shell's crude loadings from its Bonny and Forcados terminals in Nigeria remain suspended, but force majeure has not yet been declared on loadings from the terminals. Oil is coming into the terminals but none is going out. This could be a long strike, yet again.

NORWAY - loading has been disrupted due to bad weather in the region. yet it has by late Tuesday come back on line due to better weather.
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