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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: marc chatman who wrote (25948)7/17/1998 10:44:00 PM
From: Broken_Clock  Read Replies (1) of 95453
 
marc....re August options....

""OUTLOOK:
The market is expected to trade lower next week on persistent concerns
that US crude and product inventories are still oversupplied.
"The market will still be lower next week," a broker said. "Prices
could get down to $13.65."
Initial support has been pegged at $13.91.
The market is waiting to see the next round of inventory data on US oil
and products.
"If we get another build in gasoline, it will be a crushing blow to the
market," a broker said. "Gas needs to rally to initiate crude."
According to brokers, trading next week will have a lot do with the
expiration of the Aug crude futures contracts on Tuesday. "Rolling out of
the Aug contract could push the market down," a trader said.""
crbindex.com
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