Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (27606)	7/21/1999 4:29:00 AM
From: IQBAL LATIF	Respond to of 50167

Brent crude oil fell 65 cents to $18.55 a barrel. I have always been highlighting that above a certain price OPEC will not hold back supplies, the big drop in oil yesterday came once following was declared by Roberto Mandini, president of Venezuela's national oil company, Petroleos de Venezuela SA. <<crude oil futures fell on comments made by Roberto Mandini, president of Venezuela's national oil company, Petroleos de Venezuela SA. In New York, August light, sweet crude oil fell $1.07 to $19.37 a barrel; unleaded gasoline for August delivery dropped 1.78 cents to 60.01 cents a gallon; August heating oil dropped 1.71 cents to 49.65 cents a gallon; and August natural gas rose 0.11 cent to $2.198 for each 1,000 cubic feet. In London, Brent crude oil fell 65 cents to $18.55 a barrel. Already jittery about sharp gains posted late last week, traders responded quickly to news that Mandini said he thought oil producers must not allow prices to rise above $22 a barrel for West Texas Intermediate crude. If the limit is exceeded, they should agree to increase production, he said.