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To: Robert T. Quasius who wrote (497)6/28/1998 12:08:00 AM
From: MarkM  Respond to of 1153
 
See CBS Marketwatch:

Energy futures closed mixed to finish out a volatile week. Traders will have to wait until the July 31 supply report to see whether the cuts of 1.36 million barrels a day, scheduled to start July 1, have their intended effect. OPEC representatives believe the recent drop in the price of crude oil will prevent cheating. The proposal would bring the total production cuts this year by both OPEC nations and non-members to 3.1 million barrels per day. On the New York Mercantile Exchange, August crude oil gained 10cents to $14.13 per barrel, while July heating oil fell 0.15 cents to 38.65 cents per gallon while July unleaded gasoline slipped 0.13 cents to 45.80 cents a gallon.




To: Robert T. Quasius who wrote (497)6/29/1998 10:12:00 AM
From: MarkM  Read Replies (2) | Respond to of 1153
 
Well, what's the consensus for this week? Apparently July 1 OPEC cuts go into effect. We may see a small bump up in anticipation, and further, Japan helped the market up a bit this morning. Looks like we have a very short term bull market.