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To: BigBull who wrote (47437)	7/6/1999 7:08:00 PM
From: Ditchdigger	Respond to of 95453

FLC actually reversed into a column of X's on the P&F chart today,but there is pressure<g>..DD

To: BigBull who wrote (47437)	7/6/1999 7:30:00 PM
From: Tomas	Read Replies (1) \| Respond to of 95453

Crude Rises; OPEC Seen Making Cuts - Bloomberg New York, July 6 (Bloomberg) -- Crude oil rose to a 19-month high near $20 a barrel on signs that the Organization of Petroleum Exporting Countries will adhere to its promised production cuts in the months ahead. King Fahd of Saudi Arabia, the world's largest oil-producing nation and OPEC's most influential member, said yesterday that his country would stick with its output cuts. Kuwait and the United Arab Emirates also said the output reductions should be maintained. OPEC is leading efforts among world producers to trim supply by more about 7 percent. ''OPEC has a new spirit now, there's a rebirth of the organization,'' said Marianne Kah, chief economist for Conoco Inc., the fifth-largest U.S. oil company. ''I don't see them turning the faucet back on, even though prices have improved.'' August crude oil rose 9 cents to $19.78 a barrel on the New York Mercantile Exchange, the highest price since November 1997. Prices rose as high as $20.08 in electronic trading before the floor opened. Oil has gained 66 percent this year. In London, August Brent crude oil fell 8 cents to $18.10 a barrel on the International Petroleum Exchange. Brent surged 52 cents yesterday when U.S. markets were closed for Independence Day. OPEC made 94 percent of its pledged output cuts in June, according to a Bloomberg survey, up from a revised 90 percent in May. Saudi Arabia is only one of several producing countries encouraging compliance with the pledges to cut compliance. United Arab Emirates Oil Minister Obeid bin Seif al-Nasseri said that OPEC should not ''exploit'' the recent increase in oil prices and raise production. Kuwait called on OPEC to maintain its high-level of compliance with oil output cuts -- even though prices have surged this year -- because global demand for oil remains weak, the country's official news agency KUNA reported on Sunday. And non-OPEC Russia, the world's third-biggest oil producer, said yesterday it cut exports by 6 percent in compliance with its pledge. Reports last week by the American Petroleum Institute and the U.S. Department of Energy showed U.S. crude oil inventories were shrinking. The API said supplies as of June 25 were 329.9 million barrels, 10.4 million barrels less than a year earlier. Petroleum products were little changed. Gasoline for August delivery was up 0.02 cent to 58.48 cents a gallon on the Nymex. Heating oil for August delivery rose 0.24 cent to 49.38 cents a gallon. bloomberg.com

To: BigBull who wrote (47437)	7/6/1999 11:01:00 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

You ain't kidding - my eyeballs nearly popped outta my head when I checked my portfolio today. "Micro E&P's discussed on the board had GREAT days however. "

To: BigBull who wrote (47437)	7/7/1999 7:48:00 AM
From: JGreg	Read Replies (1) \| Respond to of 95453

Bull & all: It was speculated that NG prices would benefit from a hot summer as well as a cold winter. Lately prices have been retreating while one of the hottest summers on record (East coast) seems to be shaping up. What's it going to take for NG prices to move past 2.50-------winter? I thought the low supply and high demand would have already been reflected more in a higher price. At 2.20 we're 10% ahead of the price earlier this year, but aren't we off of a high of about 2.45? Doug, ----anybody, educate me here. Thanks.