VOL. XLVII
No 03
19-January-2004
OPEC
OIL PRICES
Crude Prices Edge Higher As Uncertainty Encourages Speculation
Crude oil prices last week reached their highest point since the build up to the US-led invasion of Iraq, after both hedge funds and commercial oil companies had accumulated record speculative positions in response to continuing uncertainty over near-term demand, supply levels and low US inventories. High prices remained despite further evidence that OPEC-10 producers are cashing in MEES...
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