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

To: J. Fred Donham who wrote (38988)	3/5/1999 7:50:00 AM
From: j g cordes	Respond to of 95453

One extremely important item in the oil futures equation which hasen't been mentioned is the dollar. As oil price is pegged to the dollar, the dollar to US interest rates.. the jump in the last month has a tactile relationship for traders. Rates have had little overhead resistance from 5 to 5.9%. When rates drop their speculation, the dollar will fall against Yen and Euro, then the oil speculation against contrary supply/demand will relax. Jim