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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: The Phoenix who wrote (53702)	9/24/2000 4:51:35 PM
From: Jorj X Mckie	Respond to of 63513

Since 30M barrels is such a small amount and the refineries are the bottleneck anyway, I think that we have to assume that releasing the SPR was simply a shot across the bow of OPEC. The fact that OPEC is saying "the price will come down", tells me that it worked. However, I would not be surprised to see oil be used as a political tool for the next few weeks so I wouldn't even venture to guess where it will end up. (GZ is getting out of his oil positions based on the idea that oil is a political football right now).