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To: Victor Lazlo who wrote (112124)11/26/2000 12:13:33 AM
From: Sarmad Y. Hermiz  Read Replies (1) | Respond to of 164684
 
>> Besides if you are so sure that it is going to happen, don't you think traders are? Wouldn't the price/barrel already have gone up a lot more?

Traders are taking the same point of view that you have. Which is that Iraq will back down from its position that it will decline oil sales unless it receives direct payment (or that its orders for $4 billion of goods are un-blocked by the US). Obviously Iraq will not cut off oil forever. So the question is how long will the disruption be ? And most important, will the gulf Arabs take this opportunity to show their displeasure with the US support of you know who.

>> I pay a lot more attention to the DOE's inventory reports that come out every Tuesday afternoon than I do to the wild ramblings of a mad dictator.

What do the reports show ? For a while they were indicating the lowest level of inventory since records began to be kept. (aside from the SPR).