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Gold/Mining/Energy : Games Trader -- Ignore unavailable to you. Want to Upgrade?

To: hsg who wrote (1075)	8/4/1999 3:50:00 PM
From: Professor Dotcomm	Read Replies (1) \| Respond to of 1239

As Lord Shaftesbury said: "I don't give a damn for his opinions, but I would go to the scaffold for his right to express them!

To: hsg who wrote (1075)	8/4/1999 9:32:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 1239

quote.bloomberg.com

To: hsg who wrote (1075)	8/5/1999 5:43:00 PM
From: goldsnow	Respond to of 1239

FOCUS-Oil prices climb again, Brent eyes $20 03:25 p.m Aug 05, 1999 Eastern LONDON, Aug 5 (Reuters) - Oil prices again scampered up on Thursday on the back of a strong U.S. gasoline market and with benchmark North Sea Brent crude once more eyeing the key $20 level. Brent crude for September delivery last traded 19 cents higher at $19.82 a barrel, within sight of the 20-month high of $19.95 reached last week. The market continued to draw strength from a slide in U.S. gasoline stockpiles, Russia's decision to curb exports of refined products, and OPEC's supply restraint. On Wednesday, the U.S. Department of Energy reported that U.S. gasoline stocks fell by around one million barrels in the latest week, contradicting an estimate by the American Petroleum Institute the day before that they had risen almost two million. The DOE also reported a 3.4 million barrel decline in U.S. crude oil stocks. Russia's decision to halt exports of gasoline and cut diesel and fuel oil exports to 30 percent of refinery output in August and September to boost domestic supplies, was also supportive. Russia's regions had been complaining of shortages of oil products needed for the annual harvest. The oil markets continue to be underpinned by confidence in the determination of the Organisation of the Petroleum Exporting Countries to stick to pledged output curbs through to the end of next March. The deal, reached in March this year, has resulted in oil prices doubling since Brent dipped below $10 in February. Algeria's OPEC President Youssef Yousfi on Thursday urged the producer group to maintain the cuts until the end of March or even beyond that date if it was deemed necessary. Yousfi said in a statement the output cuts should be adhered to because global oil stockpiles remained high. He said his position was shared by Libyan Oil Minister Adbullah al-Badri, who was holding talks with Yousfi in Algiers. Royal Dutch/Shell Group, reporting a five percent jump in second quarter headline profits, said the oil market should remain strong in the short term. ''Provided global production does not increase significantly, the projected growth in oil demand will provide a basis for continuing oil price strength in the next few months,'' the oil giant said in its results statement. Copyright 1999 Reuters