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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (4646)	7/12/1998 9:18:00 AM
From: wizzards wine	Respond to of 34811

"Off Topic" JJ one of the things that comes into play when looking at Iran's output of oil, is that part of that number is the smuggled Iraqean oil that has been shipped from Iraq to Iran and other parts since the United Nations boycott on Iraq.. From what I have heard that supply of oil has never stopped and is not reported, thus Iran has all of it's oil plus some of the Iraq oil to peddle... Prices for oil are also supply and demand...Currently most of the oil holding tanks in the US are full and all of the ocean tankers are full and many are standing offshore waiting to be offloaded....and all of these countries keep shipping... Asia plays a large part in this whole over supply right now as thier growth rate of oil was planned into the overall supply side. They are way off of thier demand and supply has cut back very litle... Until supply cuts back and the reserves start to tighten up...Oil will just float as an over supplied cheap item. Later Preston