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Strategies & Market Trends : Tech Stock Options

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To: Patrick Slevin who wrote (49283)	8/5/1998 11:15:00 AM
From: Dwight E. Karlsen	Read Replies (1) of 58727

Pat, the xoi has been on a slide purely because oil prices are a few dollars lower this year than last, per barrel. Nymex crude is about $14, when last year oil was more in the $17-$18 range. The oversupply is very evident. Storage tanks are full. The world is awash in oil. Asia. Asia. Asia. They're not using as much oil this year. The the effects of El Nino winter. Didn't need to burn as much heating oil to keep warm. Someone pointed out that heating oil is now cheaper than bottled water.

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