VOL. XLVII

No 09

01-March-2004

OIL PRICES

Crude Prices Buoyed By US Gasoline Supply Fears

Crude prices remained buoyant last week, underpinned by low US inventories and uncertainty over how much supply OPEC will actually take from the market following its recent agreement to curb overproduction and reduce quotas by 1mn b/d from 1 April (MEES, 16 February). The WTI benchmark price was reduced by expiry of the March front month contract on 20 February, but the April contract soared on 25 February on...