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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Lucretius who wrote (17522)	3/22/1998 11:05:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

I think with summer approaching new supplies waiting to get to the markets alonwith slow down in ASEA and Iraqi sanction busting in full bloom 1.6 million barrel a day is just not enough-- Oil needs to move above 16$ to stabilise otherwise the short term trend remains under pressure. Trading price of Oil and intrinsic value are two different things when important supports are taken out we get extended downwards movement the psychology of excessive pessimism- however in six to seven months when the depleted reserves of nations would need to be covered with approaching winter I expect Oil moving up fast back to 21 or 22$. On a lighter note if you are a Prime Minister of a Oil consuming nation nice to buy Oil futures from Chicago Mercantile Exchange to take advantage of lower Oil prices I am trying to convince my government to hedge they laugh on this terrible idea of unpardonnable and the ultimate sin. A nation needsto be a trader today to lock in low prices but these poor governors know so little about markets they think market is speculation and gambling.