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

To: articwarrior who wrote (53794)	10/31/1999 10:53:00 PM
From: pz	Read Replies (1) \| Respond to of 95453

It looks like oil is up .30 after hours, so it is setting up to be a good day for the oils....hopefully. Paul

To: articwarrior who wrote (53794)	11/1/1999 6:11:00 AM
From: oilbabe	Read Replies (1) \| Respond to of 95453

Crude Oil Rises After Shell Warns Its Exports From Nigeria Will be Delayed London, Nov. 1 (Bloomberg) -- Crude oil rose after Royal Dutch/Shell Group warned customers that oil exports from Nigeria will be delayed this month by civil unrest. Shell, the biggest foreign oil producer in Nigeria, said it could not meet contractual obligations to deliver crude from its Bonny terminal, which supplies 100,000 barrels a day, because of circumstances beyond its control. Two weeks ago Shell said it extended until Nov. 12 a force majeure on oil exports from its Forcados terminal, also in Nigeria. ``There seems to be quite a bit of trouble going on down there in Nigeria and that's what's kicked the market up,' said Richard Bend, a broker with Cannon Bridge Corp. Ltd. Crude oil for December delivery rose as much as 27 cents, or 1.2 percent, to $21.96 a barrel on the International Petroleum Exchange. Crude for December delivery on the New York Mercantile Exchange was 28 cents higher at $22.03 a barrel in electronic trading. Concern about disruption to supplies from Nigeria come as oil prices have doubled this year as 10 of the 11 members of the Organization of Petroleum Exporting Countries, plus four other nations, cut output by 5 million barrels a day, or about 7 percent of world supply.