---------------------- Forwarded by Daniel Diamond/HOU/ECT on 06/07/2000 
05:35 PM ---------------------------


Alan Engberg
06/06/2000 07:41 AM
To: Daniel Diamond/HOU/ECT@ECT
cc: Bob Shults/HOU/ECT@ECT, Douglas S Friedman/HOU/ECT@ECT 
Subject: Market Commentary

Dan, here's our first ever market commentary.  I gather the information will 
be very stale by the time eol v2 is up and running and that this will serve 
primarily as a place holder in our web page.
From our perspective, we'd much prefer to have indenpendent "neutral" sources 
(such as Platts, ICIS, CMAI ....) do the analysis, or at least do a feed.  
The reason is (a) we'll never be construed as neutral and (b) we're so thin 
that the traders themselves are the only ones who can put this together.



Thanks,
Alan