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Strategies & Market Trends : Commodities - The Coming Bull Market -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (603)	7/24/2001 5:29:20 PM
From: craig crawford	Read Replies (1) \| Respond to of 1643

Tuesday July 24, 5:09 pm Eastern Time NYMEX crude settles higher as OPEC cuts seen likely biz.yahoo.com NEW YORK, July 24 (Reuters) - NYMEX crude oil futures ended higher on Tuesday as traders saw increasingly clearer signals that OPEC will cut production by at least 1 million barrels a day. Later Tuesday the American Petroleum Institute (API) releases its weekly supply data, and the API data and news surrounding OPEC's output deliberations are likely to be the main factors behind Wednesday's NYMEX values, traders said. Crude oil settled at $26.31 a barrel, up 19 cents. It traded as high as $26.44 and as low as $26.12. OPEC is likely to agree next week to cut 1 million barrels per day (bpd) from its current 10-nation quota of 24.2 million bpd, OPEC President Chakib Khelil said on Tuesday. The cuts would go into effect beginning Sept. 1, sources have said.