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Technology Stocks : Jimbo's Playhouse/CPQ

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To: Red Scouser who wrote (263)	3/27/1999 11:55:00 PM
From: Night Writer	Read Replies (1) of 12662

Red, Here is some oil news. Gasoline rose to a 10 1/2-month high, pulling crude oil prices higher, after an explosion and fire at a Chevron Corp. refinery near San Francisco raised concern about supply. The fire was the fourth refinery disruption in as many weeks in California, the biggest U.S. gasoline market. Gasoline prices already were rising after an agreement this week by exporting nations to cut oil supplies 2.7 percent to end a world oil glut. Chevron's refinery fire ''will put a strain on the system,'' said Tom Bentz, senior vice president-energy at Cresvale International LLC in New York. Gasoline prices ''will definitely be higher. Crude prices are up 30 percent this month on expectations that oil producers will cut output enough to eliminate a worldwide supply glut over the coming months. The Organization of Petroleum Exporting Countries joined other producers this week in agreeing to cut world crude supply by 2.7 percent, or more than million barrels a day. (Bloomberg)

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