VOL. XLVII

No 05

2-February-2004

OPEC

OIL PRICES

Crude Prices Ease On Warmer US Weather

Crude prices declined last week from recent highs, as warmer weather in the US eased concerns over the adequacy of heating oil stocks to cover a sustained cold spell. Although the low state of US commercial inventories continued to set a floor for prices, the rigidity of the benchmark on which stocks tightness is judged was also relaxed reports said analysts now view 250mn barrels as the de facto comfortable...