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

To: excardog who wrote (85981)	2/1/2001 7:46:51 PM
From: excardog	Read Replies (1) \| Respond to of 95453

NYMEX Oil Review: Crude Rises 3% as Brent, Heating Fuels Rally Feb. 1-MAR-- By Melanie Lovatt and Peter Rosenthal, BridgeNews New York--Feb. 1--Crude oil futures surged Thursday on the back of a jump in Brent and heating fuels. NYMEX Mar crude settled up $1.16 at $29.82 per barrel after climbing to a three-day high of $29.85. Brent led the charge to higher prices as it hit a two-month high of $28.25, while a rally in heating oil and a 12% natural gas jump were supportive. * * * Brent prices are climbing because they are subject to a squeeze, according to brokers. In afternoon trade Thursday, one or two parties were said to be bidding up the front March/April spread and appeared to be intent on keeping it strong, said brokers. They speculate that the front-spread was being bid up, either by an international trading firm understood to have bought a number of physical dated Brent cargoes in the past weeks or an oil company with a large equity position in Brent (Story .1800). "Brent didn't take out the prior day's lows and is more positive than [West Texas Intermediate]. It's helping oil markets in general that Brent is holding up well," said one broker. Crude was given a big shot in the arm from buoyant natural gas trade where Mar Henry Hub futures ended up 69.3 cents or 12.14% at $6.400 per MMBtu. The natural gas price climb also helped heating oil off its lows and Mar closed up 188 points at 77.84c per gallon after slipping to a seven-month low of 74.75 cents per gallon. Meanwhile, hard-line statements from the U.S. on Iraq were also supporting crude, said brokers. Secretary of State Colin Powell denounced Iraq on Thursday as a threat to "the children of the region," and said the Bush administration intends to hold Baghdad to its promise to get rid of its weapons of mass destruction (Story .18928). This increases the likelihood that Iraq will "get upset" and could pull crude exports off the market, said one broker. OUTLOOK: NYMEX crude oil is having a tough time cracking $30 resistance, although if Brent is pushed higher, NYMEX may be able to hurdle this key level. However, if the Brent squeeze dissipates, NYMEX crude could slip lower. Overall, most market players are expecting NYMEX crude to stay in its $28.50-30.50 range, barring any fresh news. End

To: excardog who wrote (85981)	2/1/2001 7:58:32 PM
From: Frank	Respond to of 95453

excar--don't worry -I'm older than you (56). I'll bring the cookies and milk for our snack--just so we're in bed by 9:30--separate rooms of course---Frank

To: excardog who wrote (85981)	2/1/2001 8:08:44 PM
From: diana g	Read Replies (3) \| Respond to of 95453

<<Off Topic>>> Party Hi excardog, My guess is that the average age is going to be 45-60, with some older and some younger. I don't think age differences will be a problem. We all share our interest in the sector, and we all want to bet on the outcome when Slider & JQP mud-wrestle in the garden in the hotel atrium. ---Seriously, It's easy to come & if you don't care for the company you can easily amuse yourself for a couple of days in Vegas pretty much regardless of your tastes and inclinations. Something for everybody there or in the area. So give it a shot, eh? What's to lose? You know it's very often true that the things we most regret aren't the things we did, but rather the things we didn't do. regards, diana