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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine) -- Ignore unavailable to you. Want to Upgrade?

To: Greg Butcher who wrote (773)	7/7/1998 7:39:00 PM
From: FUZFO	Respond to of 2282

Full: NYMEX Oil Review: Crude hits 2-wk low ahead of API data By Glen C. Carey, Bridge News New York--Jly 7--NYMEX energy futures fell as commodity fund investors liquidated positions ahead of the release of weekly US inventory data, which are predicted to show an increase in crude stockpiles last week. The market also displayed fresh concerns about in-fighting among OPEC members on production cuts. Aug crude fell 30c to $13.62. Aug heating oil fell 41 points to 37.60c, while Aug gasoline fell 118 points to 46.92c. * * * "It is a combination of those things," a broker said, referring to OPEC commitment doubts and US inventory concerns that pushed the Aug contract to a 2-week low of $13.60. Venezuela on Monday claimed that Iran, a fellow OPEC member, failed to meet its previous pledge to cut production by 230,000 bpd. Iran said it will respond to the comments on Wednesday. According to brokers, this reinforces the perception that OPEC is unable to adhere collectively to pledges made in Vienna last month to cut production by 2.6 million bpd. The cuts were supposed to have taken effect Jly 1 amid a market that is still seen as oversupplied. "The bottom line is we are still looking at excess supply," a broker said. US inventory reports are expected to show crude stocks rose 2.0-3.0 million barrels, with gasoline inventories unchanged or down by 1.0 million barrels. In another development, Nigerian opposition leader Moshood Abiola collapsed and died of a heart attack today during a meeting with US officials. Abiola's death comes a month after Gen. Sani Abacha, military ruler of the oil-rich nation, also died unexpectedly. OUTLOOK: Crude futures could move lower on Wednesday, continuing Tuesday's losses, if US inventory data reveals an expected rise in crude inventories. "We are still in a solid downtrend," a broker said. "The market is oversupplied." Support is pegged at today's low of $13.60. Technically, the market was unable to push above $14.00, though it climbed as high as $13.92, a level now seen as resistance.

To: Greg Butcher who wrote (773)	7/10/1998 1:23:00 PM
From: MoneyPenny	Read Replies (1) \| Respond to of 2282

I've been doing a little research on GLM and deciding whether to hang on or cut my losses on at least part of my position and I was checking to see if Soros had sold any of his large position in GLM. a report filed with SEC on 5/20 shows Soros as an individual owning 4+% and his Soros Fund Mgmt. partnership owning 4+% with an additional large position by Stanley Druckenmiller ... www4.edgar-online.com Anyone know anything about this? Am learning to find this information but still unsure what to do with it when I find it...oh well...Sharon