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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?


To: Platter who wrote (37600)2/16/1999 11:48:00 AM
From: Crimson Ghost  Read Replies (2) | Respond to of 95453
 
Bloomberg reports heating oil at record lows today. Lower than 1986.

Looks like we will see a selling climax in the OSX shortly. New lows a good bet. But expect a huge rally when the selling climax is done.

Banks have drastically tightened their lending standards for oil projects according to Bloomberg. This is expected to trigger still deeper cuts in capital spending.