VOL. XLVII

No 17

26-April-2004

OIL PRICES

Crude Prices Ease On US Stockbuild

Benchmark crude prices remained high last week, underpinned by the potential for heightened Middle East hostilities to lead to supply interruptions, and by the continuing squeeze in the US on gasoline. Weekly average gasoline prices reached another new peak at $1.81/gallon, supporting WTI prices because refiners are running higher than normal volumes of light sweet crude in order to meet tighter motor fuel specifications....