Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO) -- Ignore unavailable to you. Want to Upgrade?

To: Charles A. King who wrote (10451)	3/6/1999 8:21:00 AM
From: Charles A. King	Read Replies (1) \| Respond to of 13091

From my previous post: Iranian diplomats said Foreign Minister Kamal Kharrazi plans to visit fellow OPEC member Venezuela on March 17 to discuss a meeting of ministers of the Organization of Petroleum Exporting Countries on March 23. Kharrazi has already visited Saudi Arabia and Libya to discuss the meeting, and has publicly called for more production cuts to lift prices. If the Iranians and the Venezuelans are suddenly getting together a week before the OPEC meeting, which had been scheduled long ago, and getting their stories straight that they have suddenly gotten the production cutting religion, they will have a difficult job ahead of them convincing Saudi Arabia and the rest of the oil exporting countries. If on the other hand, they had been cutting their own production months ago and if other countries could see that, then maybe they will have some credibility. But somebody has been filling the petroleum storage tanks to the brim, bombing world petroleum prices. Saudi Arabia no longer has its old market in South East Asia soaking up 40% of its output and seems to have come to the USA to sell its excess oil. The third warm winter in a row in the US northeast has not been kind to oil prices. Thursday March 4 7:21 PM ET Oil Rises Ahead Of OPEC NEW YORK (Reuters) - Oil prices rose to their highest level in two months Thursday amid speculation that OPEC ministers might agree to cut production when they meet later this month. ''There is a lot of reluctance to be caught short ahead of the OPEC meeting, especially in light of all the shuttle diplomacy going on with the Iranians,'' said Nauman Barakat, a broker with Prudential Securities. Iranian diplomats said Foreign Minister Kamal Kharrazi plans to visit fellow OPEC member Venezuela on March 17 to discuss a meeting of ministers of the Organization of Petroleum Exporting Countries on March 23. Kharrazi has already visited Saudi Arabia and Libya to discuss the meeting, and has publicly called for more production cuts to lift prices. Oil prices were also supported by firmer U.S. gasoline prices due to lower refinery output, a move which might lift demand for crude once margins improve. Last weekend's bombing of a pipeline in Iraq, which temporarily halted shipments via Turkey, also underpinned the market. Crude oil for April delivery closed up 42 cents at $13.35 per barrel, after reaching $13.50,, a two-month high, during trading. April gasoline gained 1.35 cents to 41.26 cents a gallon, making a cumulative gain of 3.48 cents in three days. April heating oil rose 1.25 cents to 34.80 cents a gallon. dailynews.yahoo.com +++++++++++++++ Saturday March 6 12:53 AM ET Oil Eases CHICAGO (Reuters) - Crude oil prices eased after posting strong gains this week. Crude oil futures on the New York Mercantile Exchange ended lower Friday as traders took profits after recent big gains that took prices to an eight-week high Thursday, traders said. ''The market's gains Thursday were a bit overdone, and the slight pullback today was expected,'' said a NYMEX floor trader. April crude slipped 5 cents to $13.30 a barrel. April heating oil fell 0.05 cent to 34.75 cents a gallon, while April gasoline inched up 0.14 cent to 41.40 cents a gallon. dailynews.yahoo.com Charles