Well, given that it was just reported that an oil WELL was blown up by sabateurs in Northern Iraq ... combined with the pipeline attacks overnight that received little note with all the "election trade" going on ...
I tend to agree with you, Dennis. Maybe not $60, but, I'd expect oil to rally within the next couple of days, too.
(edit to add story, which is now moving on the wires ... under fair use ...)
Saboteurs Blow Up Oil Well In North Iraq -State Co Source
BAGHDAD (Dow Jones)--Saboteurs blew up an oil well in northern Iraq late
Tuesday, an act that will cut into the country's oil production, an engineer
with the state-owned North Oil Co. said.
The attack hit the Al-Ghabaza well, located some 35 kilometers south of Kirkuk
in the village of Yalji, the engineer said.
"This evening, an act of sabotage took place against one of our key oil wells,
and that will reduce our crude oil production from the north," the engineer
said.
Assailants Monday morning blew up a domestic oil pipeline that connects the
Kirkuk oil fields with the Beiji refinery in northern Iraq.
Oil is being diverted to domestic refineries while repairs are carried out on
the pipeline, halting exports from the Kirkuk oil fields. Those exports are to
resume in two to three days.
-By Hassan Hafidh, Dow Jones Newswires; +964 7901 912214;
hafidh8@hotmail.com
(END) Dow Jones Newswires
11-02-04 1320ET- - 01 20 PM EST 11-02-04
nanna
