Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: NucTrader who wrote (6229)	12/29/1997 9:17:00 PM
From: Gottfried	Read Replies (2) of 95453

NT and all, I don't like this news from InfoBeat at all... Crude oil prices tumbled to a nearly two-year low Monday as Iraq appeared close to resuming oil exports, a move that will boost world-wide supplies. Crude oil for delivery in February dropped 58 cents to $17.62 a barrel on the New York Mercantile Exchange, sinking below the $18-a-barrel floor above which the nearby contract has recently hovered. Earlier in the day, the contract dipped as low as $17.58, the lowest for a nearby crude oil contract since February 1996. Iraq's oil minister Amer Mohammed Rasheed said Saturday that Baghdad had sent its aid distribution plan to Secretary-General Kofi Annan for approval, and that he expected Iraq oil exports to resume this week. Iraq had stated that it wouldn't export oil under the United Nations-supervised oil-for-food program until its aid plan is approved. Fred Eckhard, a U.N. spokesman, said Monday, that Mr. Annan is expected to approve Iraq's plan this week. January gasoline and heating oil contracts, which expire Wednesday, followed crude's downward trend. January heating oil pushed below 50 cents a gallon for the first time since June of 1996. (WSJ Interactive) GM

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next