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To: Razorbak who wrote (4087)	9/11/2001 11:40:26 AM
From: Razorbak	Respond to of 206093

"Oil Price Up $3.20 After U.S. Attacks" Tuesday September 11, 11:31 am Eastern Time LONDON (Reuters) - Oil prices surged on Tuesday after planes crashed into the World Trade Center and the Pentagon in an apparent terrorist attack on the United States. London Brent blend futures hit a peak of $31.05 a barrel, the highest price since December 2000. At 1450 GMT, when London's International Petroleum Exchange suspended trade for an hour, Brent was up $3.20 or nearly nine percent, at $30.65. Crude last year hit a 10-year peak of $35. ADVERTISEMENT Dealers said that while there was no immediate threat to world oil supplies buyers had been forced into the market because of the uncertainty surrounding the attacks. There was speculation among traders that the attacks could be linked to recent instability in the Middle East between Palestinians and Israel. This has heightened uncertainties around the Middle East,'' said Tim Noest of brokers ADM in London. ``Brent just went through the roof.'' ``This creates a great deal of uncertainty surrounding the whole Middle East situation and the likely U.S. response,'' said a U.S. trader. Dealers said that U.S. companies unable to trade on the New York Mercantile Exchange, which closed after the attacks, were trading where possible on London's International Petroleum Exchange. ``We're seeing a flood of orders which have been exacerbated by the close of the New York exchange. International tension means oil up, gold up,'' said broker Christopher Bellew of Prudential Bache in London. The Secretary-General of the Organization of the Petroleum Exporting Countries Ali Rodriguez said that the Arab-dominated cartel would ensure world oil supplies and price stability. ``OPEC member countries are committed to their promises to guarantee sufficient oil supplies,'' Rodriguez told Reuters after the attacks. ``None of these things change OPEC's decision to guarantee the stability of the oil market.'' OPEC is due to meet on September 26 and had been expected to leave oil supplies unchanged after cutting output from the beginning of the month by a million barrels a day. biz.yahoo.com

To: Razorbak who wrote (4087)	9/11/2001 11:45:31 AM
From: anyer	Read Replies (1) \| Respond to of 206093

Amen Razor. As the commercial says;we are born, we die and it's how smart we are in between that matters. Thinking that US air traffic may have to be grounded for longer than 1-2 days as obvious security measures are a joke. Demand for crude may go down, not up after initial reaction. On the other hand I would not be surprised if IRAQ is not behind this. They have been shit on for a long time and may have decided to fight back.Mideast war would restrict production for sure. Scary because suitcase nuke could be next in any big city. Anyer