VOL. XLVII

No 15

12-April-2004

OIL PRICES

Oil Prices Move Higher On US Stock Falls As OPEC Cuts Seen Minimal

Oil prices moved higher last week after weekly US stock data showed an unexpected fall in crude and products inventories in the previous week, heightening supply fears in a period that normally witnesses a seasonal build in stocks. The upsurge of violence in Iraq and short-covering ahead of the long holiday weekend also helped prices higher as participants tried to assess the likely extent...