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: Chuzzlewit who wrote (16032)	3/23/1998 3:33:00 AM
From: Broken_Clock	Read Replies (1) of 95453

Further article with more good news.... yahoo.co.uk "The actual real buying is patchy and thin at the moment," said Tom James, Asian manager for oil and commodity derivatives at Credit Lyonnais Rouse. "The real buying will come in once they've proved that they are going to do what they promised," he added. But he said that with Saudi Arabian support for the recent agreement, oil prices could sustain the rebound and were unlikely repeat the volatile pattern seen in the past month. He saw prices of WTI staying around the $16.00 level and Brent rising to around $15.00. "Saudi has taken the lead, so the other OPEC members will come in to support the market," he said. "So even if the market starts to fall, OPEC members will be much more likely to step in to support prices. So you've got the fundamental support from the backing of other members which wasn't there before," he added. James said that expectations of a rise in U.S. demand as U.S. refiners start to emerge from annual maintenance turnarounds would add an additional bullish factor.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next