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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: kodiak_bull who wrote (5031)	11/13/2001 1:38:11 PM
From: Archie Meeties	Read Replies (1) \| Respond to of 206272

Guy B says, "OK, I'll stop. But I have to get you back for that last punch to make it even." Iran's announcement reminds me of this... 03/10/1998 The Wall Street Journal Page C17 (Copyright (c) 1998, Dow Jones & Company, Inc.) NEW YORK -- Crude-oil and product futures dropped at the New York Mercantile Exchange yesterday as energy markets discounted the possibility that the Organization of Petroleum Exporting Countries will act soon to support oil prices. Saudi Arabia, OPEC's most influential member and the world's largest oil producer, said yesterday that it wouldn't attend March OPEC committee talks in Vienna and reiterated its position that it wouldn't alone cut oil production. The nearby April crude-oil contract, the futures contract closest to physical delivery, dropped 58 cents a barrel to $14.33. Earlier in the session, the contract dropped 76 cents a barrel to $14.15, the lowest point for nearby crude futures since April 1994. April heating oil fell 1.22 cents a gallon to 40.93 cents a gallon, and April gasoline dived 2.02 cents a gallon to 46.28 cents. Earlier yesterday, April heating oil struck a nine-year low of 40.40 cents, and April gasoline set a near four-year low of 45.70 cents. The Saudi decision, which comes a week after Venezuela's oil minister, Erwin Arrieta, declined an invitation to attend the talks, obliterated any chance that the Vienna gathering will become a higher-level emergency meeting, where output cuts could be considered. Riyadh's decision was first hinted at Sunday when Saudi Oil Minister Ali Naimi said in an interview with his country's press agency that it will be "difficult indeed" for OPEC to reach collective action on cutting output because "some countries, especially those which exceed their quotas, indicate that they aren't prepared to reduce their production."