TAURUS COMMODITIES

133 W. Boscawen Street, Winchester, Virginia

(December 5, 1997) ENERGY COMPLEX: CRUDE OIL–Decent profits on our closed-out shorts and a new short position as prices continue to be under pressure as a result of the bearish supply fundamentals following the bigger OPEC production quota increase last week and an apparent quick rollover of the UN oil-for-aid deal for Iraq. Prices seem headed for 1994 lows at about $14.

Consensus National Futures and Financial On Line Index

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