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.

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

To: SliderOnTheBlack who wrote (53691)	10/28/1999 10:27:00 PM
From: Roebear	Respond to of 95453

Slider, You do such a nice job of seeing the market, my compliments. Now to ask a speculative question about OPEC and the oil markets. Why would OPEC ever open the spouts? They can make 100% more by selling 5-7% less! As for meeting the demand, let the non-OPEC market take some of the slack up with oil at the $20-24 average range. Not too much of course or OPEC would retaliate, like the old days when they cut each others throat trying to slice up the oil pie. This then works out like the symbiosis of the institutional funds and short sellers you just described, in your analysis of current market action in the oil stocks. Just maybe after everyone got their butt kicked in the oil industry the last year or so, the non-OPEC and OPEC oil interests finally figured how to slice up the world oil pie without making a bloody mess of it, and perhaps soon its domestic companies time to stand up in the pantry for a piece of the oil pie action, with OPEC's blessings. Like you said about the shorts and institutions, everybody wins. Roebear

To: SliderOnTheBlack who wrote (53691)	10/29/1999 7:06:00 AM
From: oilbabe	Read Replies (2) \| Respond to of 95453

Natural Gas Falls 8% on Mild Weather in Midwest, Northeast New York, Oct. 28 (Bloomberg) -- Natural gas fell 8 percent, the biggest drop in almost two months, on expectations that mild weather will reduce demand in regions of the U.S. that are the biggest users of the fuel for home heating. Above-normal temperatures are expected in the Midwest from Tuesday through Saturday next week -- with normal readings forecast for the most of the Northeast -- the National Weather Service said late yesterday. An earlier six-to-10 day forecast had called for normal to below-normal temperatures. Milder weather is the main reason ``we're off today,' said Chris Schachte, an analyst at GSC Energy Corp. in Atlanta. ``The Midwest is the main consuming focus and the Northeast is a close second.' Natural gas for December delivery at the Henry Hub in Louisiana fell 25.8 cents to $2.965 per million British thermal units on the New York Mercantile Exchange, the contract's lowest closing price in three weeks. It was the biggest one-day drop since Sept. 2. Prices had risen during the two previous sessions on expectations of only a small gain in U.S. inventories last week, before the start of the peak-demand winter season. ``The natural gas market is very volatile anyway,' Schachte said, referring to this week's price swings. Gas supplies rose 13 billion cubic feet last week to 2.99 trillion cubic feet, the American Gas Association reported after trading yesterday. It was the smallest increase since April and less than the gain of 36 billion cubic feet a year earlier. U.S. gas inventories typically peak in late October or early November, as utilities and distributors build stocks for winter. In addition to the forecast for mild weather in coming days, the National Oceanic and Atmospheric Administration on Tuesday said it expects that most of the U.S. will have another milder- than-normal winter, reducing heating demand.