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MICHAEL BUSBY, Northville Industries, Melville, N.Y.: Energy futures rose bit but finished off highs as OPEC, NOPEC members met in Vienna bit did not issue news release... most expect 750,000 to 1,000,000 reduction next month...White House did not confirm speculation Bush to fill Strategic Petroleum Reserve... might do it but don't know how they going to structure it... might work deal with Saudis over cuts, storage...see crude drifting sideways in $22 area short term.
Precious Metals Are A Bit Higher
WILLIAM O'NEILL, Merrill Lynch, Princeton, N.J: Gold, metals higher as dollar slides, euro turns around from recent slide... Argentine debt problems having minimal impact on gold; it's no shock... gold in $275 to $287 intermediate trading range... traders at LME meeting last week very concerned about German economic decline; fear it worse than figures show... commodities overall focused on demand...Silver, a lagging parasite, following gold.