OGJ Newsletter

03/13/2000
Click here to enlarge imageUS INDUSTRY SCOREBOARD 3/13 - Oil prices are showing the greatest volatility since the 1990-91 Persian Gulf crisis amid heavy US pressure on key OPEC nations and conflicting signals from OPEC ministers.NYMEX crude for April delivery rocketed $1.95 to $34.13/bbl at closing Mar. 8 in response to traders' concerns that some OPEC members-Iran, Libya, and Algeria-oppose hiking production at the Mar. 27 meeting in Vienna.The next day, that same contract collapsed by $2.87-the biggest 1 day plunge in oil prices since the Persian Gulf war started-after Iran and Saudi Arabia agreed that a production boost was needed.Fresh from a tour of major exporting nations, US ...
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