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To: getanewlife who wrote (45896)	6/4/1999 10:15:00 AM
From: Captain James T. Kirk	Read Replies (1) \| Respond to of 95453

FIRE SALE: MRL

To: getanewlife who wrote (45896)	6/4/1999 10:22:00 AM
From: Captain James T. Kirk	Respond to of 95453

By Mary Chung, Bridge News: New York--Jun 4--The market could trend higher helped by bullish background news that Mexico's Energy Secretary will travel to Riyadh today to meet with his Saudi and Kuwaiti counterparts to discuss the possibility of extending the OPEC agreement. Also, a tightening of sweet crude supply as reflected in weekly inventory data in the Midwest region could lend support. Most brokers and traders expect Jly crude to trade in $16.50-$17.00 range. * * * NYMEX Jly crude ended overnight the Access session up 8c at $16.82. Jly heating oil ended up 20 points at 39.93c but was last bid at 39.81c. Jly gasoline ended up 19c at 48.79c but was last 48.62c. Mexico Energy Secretary Luis Tellez said that the meeting would address the current crude oil price situation, with ideas of extending the March agreement to cut oil output by 2.1 million barrels per day beyond Apr 1, 2000. (Story .25143) Brokers and traders said the market should react favorably to the meeting, however, most doubt that an extension of the deal is likely. "The possibility of extending the agreement will help the market but I think it is (untrue)," one broker said. Also, brokers noted that a squeeze in sweet crude oil in Midwest region could also help crude move toward resistance at $17.00. "There's not enough sweet crude in Padd 2," a broker said. "This could get exciting for the market." However, a move toward $17.00 in Jly crude could produce a sell off, brokers and traders said. "At $17.00, we're going to sell it," a trader said. "There's not much more upside potential." The market is also focusing on the latest Commodity Futures Trading Commission data released this afternoon, which are expected to show a significant decrease in length by commercial investors, which could help trigger a short covering rally next week. UPCOMING: --Jly crude options expire Jun 17. Jly crude futures expire Jun 22. --Jly product options expire June 25. Jly product futures expire Jun 30. --IPE Jly crude futures expire Jun 15. Jun gas oil futures expire Jun 10.

To: getanewlife who wrote (45896)	6/4/1999 11:00:00 AM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

OPEC has already made their "here and now" decision - Cut production. What Kudlow and many other analysts have missed with their superficial analysis is the tremendous social, political, and economic problems the ultra low oil prices caused the producing countries. Look back through the posts earlier this year. Russia, Venezuala, Brazil, Saudi Arabia, Mexico, Norway... The list of countries having serious problems goes on and on. That is OPEC cut, why non-OPOEC members went along, and that is why they won't cheat. Any analyst who cannot see that should retire or find a line of work more in line with their cognitive abilities.