Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: SliderOnTheBlack who wrote (94299)	10/23/2001 4:10:46 AM
From: A. Geiche	Read Replies (1) \| Respond to of 95453

On the background of the growing anti-war world's sentiment, US relation with Saudi Arabia flares into crisis, "total meltdown." The Bush's Afghanistan adventure is turning in nightmare -- already. guardian.co.uk

To: SliderOnTheBlack who wrote (94299)	10/23/2001 9:26:05 AM
From: The Ox	Read Replies (1) \| Respond to of 95453

Ok. Back down to retest low (it has too!)-- or sideways bumping into resistance--, or up with the war disrupting ME oil flow. Gotcha. Much clearer now. Thanks for adding your 2 cents. Crude oil prices up in early London trade; Chavez calls for 1 mln bpd cutback LONDON (FWN) - Crude oil prices were up in early London trade following Monday's calls by Venezuela President Hugo Chavez for OPEC to cut output by 1 mln barrels per day, dealers said. Since last Thursday Chavez has been holding talks with energy counterparts in Lisbon, Moscow, Tehran, Riyadh and London. After a three-day visit to London, he intends to visit Mexico and Canada. Analysts said his comments had at best served to sow confusion, at worst lower the standing of the cartel and Peter Gignoux, head of the petroleum desk at Schroder Salomon Smith Barney added that it was Chavez who also suggested earlier that the OPEC price basket could be lowered to 18-22 usd per barrel. But Chavez corrected his comments last week about the price band, noting that, "lowering the band is not our objective." However, he added that Saudi Arabia, Iran, Libya and Algeria had all backed his proposal to cut oil production if necessary. Gignoux believes OPEC is in conflict at the moment. "Although publicly, they are looking disorganised, privately they are doing the right thing, which is trying to assess an unprecedented situation." In the analyst's view, OPEC's cautious stance and the timing is, "for once right. "There is a meeting on November 14. By then they will be able to assess production levels for September and October, which gives them something to sit down and talk about," he said. Gignoux highlighted that renewed optimism on the US stock markets did not prevent a sell off in crude oil prices as worries about the health of global demand subsided. "The price of oil has sold off because of fears of diminished demand. The stock market rallied last night in anticipation that the recession will be over early next year. Between those two arguments is the truth," he said. Lawrence Eagles, analyst at GNI brockerage pointed out that the weather had remained an issue for the markets, with Western Europe witnessing mild temperatures so far this autumn. He said the main supportive feature for the market was refining margins. "Brent cracking margins are around 2.42 usd for Brent in Rotterdam over the past five days. This compares with1.98 usd during the same period last year," said Eagles. This was echoed by Gignoux: "At least the refiners are making money and are not passing down some of the discount for the time being." At 10.00 am, Brent crude oil for December delivery traded 0.48 pct or 0.10 usd above its closing level, at 21.20 usd per barrel.

To: SliderOnTheBlack who wrote (94299)	10/23/2001 11:43:38 AM
From: Jane4IceCream	Read Replies (1) \| Respond to of 95453

Slider/Anybody... Would appreciate any thoughts on GLBL as a ST hold <or LT> into earnings here. Thx, Jane