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

To: The Perfect Hedge who wrote (2603)	10/30/1997 4:33:00 PM
From: David Spruiell	Respond to of 95453

Oil prices are up today. News from MSNBC A THIRD AMERICAN working for another U.N. agency - the International Atomic Energy Agency - was told he would be admitted but chose to return to Manama, Bahrain, with the others after they were turned away, one U.N. official said. ÿ ÿ ÿ ÿArriving for a Security Council meeting Thursday, U.S. Ambassador Bill Richardson said Iraq's action was "very disturbing and continues a pattern of Iraqi obstructionism that we've tried to point out for some time." ÿ ÿ ÿ ÿDespite a barrage of foreign criticism, Iraqi media welcomed the decision by Iraq's leaders not to cooperate with American U.N. arms inspectors, and Iraqi newspapers continued their attacks on Washington. ÿ ÿ ÿ ÿIraq's leadership said on Wednesday it would continue to work with U.N. weapons inspection teams but would no longer work with U.S. members. The 10 Americans among the 100 U.N. arms staff were given one week to leave the country. ÿ ÿ ÿ ÿ MILITARY ACTION NOT RULED OUT ÿ ÿ ÿ ÿOn Thursday, Britain said military action against Iraq could not be ruled out unless Baghdad complied with United Nations inspections. ÿ ÿ ÿ ÿ"We're not ruling out any options at this stage," junior Foreign Office minister Derek Fatchett told BBC television. ÿ ÿ ÿ ÿWarning of "serious consequences," the 15-member U.N. Security Council demanded that Iraq cooperate fully with the U.N. special commission (UNSCOM) set up after the Gulf War to eliminate Iraqi "weapons of mass destruction." ÿ ÿ ÿ ÿOil markets opened higher in early trade on Thursday. London December futures for benchmark Brent blend opened 16 cents higher at $19.94 a barrel. ÿ ÿ ÿ ÿWestern diplomats and Iraqi officials said the row over arms inspections was not connected to the arrangement, which allows Iraq $2 billion worth of oil sales renewable every six months. ÿ ÿ ÿ ÿBut oil traders remained skeptical and feared rising tension might put a halt to the oil sale program. NOTE: Oil prices were up another 1/4 point on the US markets. Long MDCO David ÿ ÿ ÿ ÿ