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To: Shelia Jones who wrote (19368)	4/16/1998 3:39:00 PM
From: Teddy	Read Replies (1) \| Respond to of 95453

What will Mordecai do when he hears about this: April 16, 1998 Oil Prices Surge As Iraq Warns of a 'Future Crisis' An INTERACTIVE JOURNAL News Roundup Crude oil prices rallied Thursday after Iraq warned of a new crisis with the United Nations if talks aimed at lifting economic sanctions do not begin by the end of April. The U.N. Security Council is expected to meet the last week in April to review the sanctions it imposed after Iraq's 1990 invasion of Kuwait. The April discussions should begin the process of lifting the sanctions "immediately and without delay," the ruling Revolution Command Council said. The statement was released after a meeting chaired by President Saddam Hussein. Iraq warned that those who oppose the "lifting of the sanctions would bear the responsibility for the future crisis and what comes to hurt our people." The statement did not elaborate. Iraq has repeatedly demanded an end to the U.N. sanctions, which have caused widespread poverty and suffering. The Security Council has said it will not consider lifting the sanctions until Iraq fully cooperates with U.N. arms monitors. Iraq's statement adds to a market already skittish over recent refinery outages, said Richard Redash, vice president of energy futures research at Prudential Securities Inc. Still, he said, threats from Iraq are nothing new. "In general, I'm skeptical," said Mr. Redash. "In the short term this is obviously going to raise the market. But am I excited about it? The market is familiar with Saddam's threats and the lack of follow-through on many of his threats." Late last year, Baghdad barred the weapons inspectors from entering presidential palaces, saying they were symbols of national sovereignty. The U.S. and Britain demanded full access for the arms monitors and threatened air strikes if Baghdad did not cooperate. Tensions fell after a Feb. 23 agreement between Iraq and U.N. Secretary-General Kofi Annan to allow palace inspections by arms teams accompanied by diplomats. In other news, an Iranian official said Iran will largely halt spot sales for the rest of 1998, as part of the March agreement by the Organization of Petroleum Exporting Countries and non-OPEC producers to reduce output. "It's another indication that producers are committed to their output-reduction pledges, and that's supportive," said Victor Yu, an energy analyst with Refco Inc. In late morning trading on the Nymex, May crude oil rose 45 cents to $15.91 a barrel, while June crude oil gained 41 cents to $16.23 a barrel. May unleaded gasoline rose 1.20 cents to 52.65 cents a gallon, while May heating oil rose 0.58 cent to 44.20 cents a gallon. May natural gas gained 2.90 cents to $2.550 per million BTUs.

To: Shelia Jones who wrote (19368)	4/16/1998 3:52:00 PM
From: seadust	Read Replies (3) \| Respond to of 95453

OT No sackcloth ** Shelia: RE: When Mordecai learned all that was done, he rendered his clothing and put on sackcloth and ashes, and went out into the center of the city and cried with a loud and bitter cry. I don't have sackcloth but I do have sailcloth fishing shorts on and the ashes come from my arse being burnt severely today on these stocks. I'll give you two AMENS on the < cried with a loud and bitter wail > <gggg>. Regards, WK <eom>

To: Shelia Jones who wrote (19368)	4/16/1998 4:39:00 PM
From: SJS	Respond to of 95453

No problem at all. Here's my operational procedure when I have a long morning meeting: 1) come back and check the real-time numbers, 2) read the thread (80 or so posts) from where I left off in the very early morning. 3) Today they were very divergent. The RT numbers were way red! The posts were very green! So....I figured that reading things posted 3 hour earlier is like looking back in time when I know the true future. 4) Wish I had that in reverse. I could make billions..... Fun exercise!!