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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Harold S. who wrote (47232)	7/1/1999 6:51:00 PM
From: Think4Yourself	Respond to of 95453

I cannot believe we are getting so much heat so early in the summer. If this keeps up, I will dump what's left of my oil related holdings for 100% Nat Gas E&P portfolio. Big cap drilling near nil... Power warnings out the wazoo nationwide... Record power consumption articles popping up all over the country... Electric power generation beginning to prefer Nat Gas as fuel... Higher depletion rates of Nat Gas wells (vs oil)... Difficult to "import" natural gas from overseas Unfortunately, I don't see how this will impact API numbers. APA numbers (Nat Gas) are another story entirely. On the flip side, this was just published on Marketwatch Bearish supply data pressures natural gas Crude posts modest gains in wake of 19-month high By Cecily Fraser, CBS MarketWatch Last Update: 6:22 PM ET Jul 1, 1999 Agriculture Outlook New! Futures News NEW YORK (CBS.MW) -- Traders pummeled natural gas futures Thursday after the latest American Gas Association supply report revealed a climb in inventories that was significantly higher than expected. ... The AGA said natural-gas supplies rose 91 billion to 2,033 billion cubic feet for the week ended June 25. This compares to expectations for a rise in the 85 billion cubic feet range. A year ago, natural gas in storage rose only 72 billion cubic feet. Along with the bloated supply news, the August contract got little relief after forecasts revealed that a spell of warmer weather in the Midwest could cool off by the middle of next week. The Midwest is a leading consumer of natural gas used for air conditioning On NYMEX, August natural gas fell 8.5 cents to $2.309 per million British thermal units. Meanwhile, crude oil futures posted slight gains on the coattails of Wednesday's 19-month high. On the New York Mercantile Exchange, August crude rose 10 cents to $19.39 a barrel. See commodity headlines.