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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Douglas V. Fant who wrote (30268)10/1/1998 11:46:00 PM
From: Gameboy  Read Replies (1) of 95453
 
The 70 cent drop in oil today was disappointing but extrapolating the price of oil based on the increases the past several weeks, puts oil clearly above $17/barrel and possibly as high as $18/barrel before the end of October.

Aug average: $13.47
Sep average: $14.98
Oct overage: $15.43 (so far)

Somewhere along this path of rising oil prices, would be oil producers will see the opportunity for profit and the oil service sector will rebound in earnest.

Best of luck,

Steve

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