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

To: Broken_Clock who wrote (14396)	3/10/1998 11:05:00 PM
From: Czechsinthemail	Read Replies (1) \| Respond to of 95453

No Gall Bladder News (acccording to Dow Jones): Some buying may return to the market Wednesday as the latest weekly inventory statistics indicate substantial draws. The American Petroleum Institute said crude oil stocks fell by a greater than expected 4.379 million barrels in the week ended March 6. Distillate stocks, which include heating oil, fell by 1.426 million barrels, and gasoline stocks fell by 2.985 million barrels. Refineries operated at 93.4% capacity, up from 89% the previous week. In addition, Venezuelan oil and petrochemical workers will hold a nationwide 12 hour strike Monday in support of wage demands by oil tanker seamen. [They are demanding a 106% wage increase.] The seamen have made a filing and so may be able to continue their strike beyond the 12 hour nationwide strike. Elsewhere, Venezuelan President Rafael Caldera said Tuesday that low oil prices aren't due to Venezuelan production levels--they are due to "changing world-wide market conditions". [Of course Venezuela's producing 750,000 barrels a day over their official level might be influencing the way conditions have been changing.] Baird