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: PuddleGlum who wrote (6183)	12/28/1997 6:56:00 PM
From: bobgh	Respond to of 95453

All... picked this off "Pointcast" program, from Reuters" ---------------------------------------------------------------- Crude oil and gold slip, mud lifts cattle 05:02 p.m Dec 26, 1997 Eastern NEW YORK, Dec 26 (Reuters) - NYMEX crude and heating oil futures ended on a weak note on Friday after an exceedingly quiet post-holiday trading session that had traders thinking about more downside price movement next week and beyond. Crude for February delivery settled 15 cents lower at $18.20 a barrel. Looking ahead, some traders predicted more downside price action, particularly with the expected resumption -- probably next month -- of limited Iraqi oil sales under the United Nations' oil-for-food scheme. Some attached technical significance to $17.70 a barrel -- a ''historical'' low on the spot continuation chart, with declining demand from Asian countries seen as one longer-term factor than could lead to a test of support at that level. Traders said crude's downside movement could be hastened by bearishness surrounding heating oil related to high inventories and so-far disappointing demand in the big Northeastern heating oil market. January heating oil ended 0.69 cent lower at 50.04 cents a gallon, just above the session low of 50.00 cents. Gasoline played a straightforward seasonal role following the other two contracts, with the contract for January delivery settling 0.11 cent lower at 55.66 cents a gallon. ----------------------------------------------------------------- bobgh

To: PuddleGlum who wrote (6183)	12/28/1997 7:00:00 PM
From: Teddy	Respond to of 95453

Iraq selling oil. Someone asked if they were and i just pasted a current story that said they will be. Hey, its the Middle East, it could tomorrow. Wasn't it about 3 weeks ago that we were going to start bombing them again? As best as i can tell, it is a small amount of oil that should do nothing to long term oil prices and have even less impact on the drillers.