|
|
Enron Mail |
-----Original Message-----
From: Seigle, Clayton Sent: 31 May 2001 09:57 To: Shankman, Jeffrey A.; Nowlan Jr., John L.; Schroeder Jr., Don; White, Bill; Wilson, John L.; Danaher, Patrick; Fuller, Robert; Goughary, Jim; Mulholland, Sarah; Mahoney, Chris; Thomas, John Buckner; Koller, Ross; Hickerson, Gary; Bradley, Michael W.; Scott, Eric; Maffett, Randal; Spencer, John; Slovenski, Richard; De La Ossa, Mario; Berkeland, Bill; Jackson, Lee Cc: Tholan, Scott; Johnston, Robert Subject: Iraq Update Sensitivity: Private As expected, it looks like the US and UK have accepted the fact that the sanctions cannot be restructured before the June 3 deadline. We still expect the UN to extend the oil-for-food program for six months, meaning little to no Iraqi disruptions in June. However: sources close to the UN report that Washington and London are still pushing hard for a shorter extension (1-2 months) of the program. If they get their way on this issue, expect the Iraqis to say some bullish things in response (like they will not participate in the next phase of the oil-for-food program). This might not be immediately bullish for WTI, but would set the stage for support as the market anticipates the end of the short extension a month or two down the road.
|