VOL. XLVII

No 16

19-April-2004

OIL PRICES

Crude Prices Driven By Security And US Gasoline Concerns Despite Supply Boost

Crude oil prices were supported throughout last week by fears of Middle East supply disruptions, as intense hostilities continued in Iraq. Concerns eased on 13 April after reports of increased supply volumes for May from Saudi Arabia and UAE. Saudi Aramco announced it would supply an extra 300,000 b/d to Asian and European customers, because domestic refinery maintenance had...