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To: Tomas who wrote (56027)	12/4/1999 10:46:00 AM
From: Crimson Ghost	Read Replies (2) \| Respond to of 95453

Any way you slice the reason for the undeperformance of the OSX and E&PS versus crude boils down to the simple issue of sustainability. Rightly or wrongly, Wall Street and the oil industry itself simply do not believe $25+ (or even $20+) crude is sustainable longer-term. The recent drop in natural gas prices has undoubtedly reinforced this belief. The OSX is not likely to mount a sustainable rally until this feeling changes. But when it does, even the biggest bulls may be surprised by the power of the melt-up that will follow.

To: Tomas who wrote (56027)	12/4/1999 10:49:00 AM
From: Tomas	Read Replies (2) \| Respond to of 95453

Every day another 2 million+ barrels are off the market - Iraq's return to oil market several weeks away "Saeed Hasan, Iraq's ambassador to the U.N., said Iraq would not begin the preliminary work necessary to ship oil -- signing contracts with oil companies, submitting a monthly pricing plan to the United Nations, and ramping up production -- until after the Security Council approves a full six-month phase of the programme. Hasan said this means that Iraq would not begin shipping oil until at least two weeks after any Security Council vote to extend the programme for six months." Full story: biz.yahoo.com