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To: excardog who wrote (79580)	11/20/2000 10:38:04 PM
From: The Ox	Respond to of 95453

NYMEX Oil Review: Crude Trims Gains Amid Late Profit Taking Nov. 20-MAR-- By BridgeNews New York--Nov. 20--Crude oil futures were higher Monday, but late profit taking trimmed gains from an early rally based on cold weather in the Northeast U.S. and violence in Gaza that renewed fears about supplies from the Middle East. Jan crude settled up 19 cents at $35.22 per barrel, while Jan Brent on London's IPE ended down 3 cents to $33.05. * * * NYMEX Dec heating oil ended up 212 points at $1.10 per gallon, as natural gas scored a new spot month high of $6.395 in Access overnight trading. NYMEX Dec gasoline ended up 14 points at 91.95 cents a gallon. Israel's security cabinet, at a meeting Monday chaired by Prime Minister Ehud Barak, agreed to strike select Palestinian targets. The decision was followed by reports of Israeli helicopters firing at Gaza sites. (See story .202) The strikes were an apparent response to the bombing of a school bus in Gaza that killed two Israeli adults and injured five children. Most traders though were focused on the weather in this holiday shortened week. Heating oil and natural gas futures have been pushed up by worries that the coming week's cold weather burst will further deplete U.S. stocks as the colder months of December and January approach. Natural gas futures reached a record high overnight at $6.395 per million British thermal units and settled up 14.9 cents at $6.249 per MMBtu while heating oil fell just short of its all-time high of $1.11. "They're saying that the cold weather is pumping up the heat and the natural gas," a broker said. "And people are concerned that they're not showing any build in the heating oil (inventories) even though there is not any shortage." Although Jan crude rallied to a high of $35.84, the market later trimmed these gains amid profit taking right before the close. "It's more profit taking than anything else," another broker said. "It's unable to break new highs." OUTLOOK: A combination of supportive fundamentals and a positive technical picture led brokers to predict that crude futures will head higher with heating oil set to again test its contract high of $1.11. "My initial feeling is that they're going to hold this together and try to push it higher," BNP Paribas broker Tom Bentz said, adding that the tensions in the Mideast and Iraq are seen as supportive. "That's something I think is going to remain in the market." Traders are facing a short trading week because of the U.S. Thanksgiving holiday Thursday, which will close the NYMEX early (1300 ET) on Wednesday through the opening of Sunday's overnight Access session at 1900 ET. Futures are expected to remain strong during this holiday-shortened trading week with players anticipating short covering in the futures market keeping the screen up. "If anything, that kind of favors the bullish as well because people are going to be afraid to be short going into the weekend," Bentz said. Brokers are awaiting the latest stocks data from the American Petroleum Institute, due out Tuesday afternoon. End IN THE NEWS: Story Number Headline ------ -------- .10840 Full text of International Energy Forum's closing communique .10687 Naimi: Forum sees need for oil price stability, transparency .10656 Naimi: Forum sees need for oil price stability, transparency .10652 Qatar says idea of new producer/consumer body to be studied .10642 Bahrain 250,000-bpd refinery upgrade targets Europe markets .10625 Press: Iran parliament planning review of foreign oil contracts .10610 Venezuela Rodriguez reaffirms OPEC commitment to apt oil supply .10931 Iran official says OPEC output cuts may be needed in January .10844 OPEC would take any measure to prevent price crash, official .10836 UK says current oil price unsustainable, backs mkt transparency .10830 UAE oil minister renews call for cuts on hydrocarbons levies .10821 MEES: Saudi's Naimi: Adverse effect of $30 p/b still unclear .10759 MEES sees OPEC Oct output up 240,000-bpd to 29.41 mln-bpd .10757 IEA sees oil use increasing to 2020, sharp jump in oil trade .19468 Saudi Prince Abdullah calls for consumer/producer oil body .16974 DOE says 15.135 million barrels SPR crude delivered as of Fri UPCOMING: --NYMEX Jan crude expires Dec. 19, Jan options Dec. 14. NYMEX Dec products options expire Nov. 27; Dec product futures Nov. 30. --IPE Jan Brent crude futures expire Dec. 14, Jan options expire Dec. 11. --American Petroleum Institute inventory data are due out after 1600 ET Tuesday; U.S. Department of Energy after 0900 ET Wednesday. --NYMEX energy trading closes at 1300 ET Wednesday and reopens Sunday at 1900 ET, following Thursday's Thanksgiving holiday. --The current, eighth phase of Iraq's U.N. oil-for-food deal ends Dec. 5. --OPEC next meets Jan. 17 in Vienna.

To: excardog who wrote (79580)	11/20/2000 10:48:01 PM
From: kodiak_bull	Read Replies (1) \| Respond to of 95453

<<Greenpeace 7 steps to save the planet: Seven steps to save the planet 1. An immediate halt to all oil exploration. 2. A switch from fossil fuels to wind, wave and solar energy within 40 years. 3. Mass production of solar panels to make solar power more affordable. 4. All new homes to be built with highest possible energy saving standards. 5. Insulation and energy efficiency increased on existing homes. 6. Public transport and cycle routes improved, and people encouraged to walk rather than drive. 7. Campaigns to educate the public on energy efficiency.>> Hey, hey, they forgot to list #8: 8. Free public seminars in all municipalities on shivering.