VOL. XLVII

No 21

24-May-2004

Crude Prices Remain High As OPEC Producers Move To Raise Supply Volumes

Crude oil prices remained near all-time highs last week, as the escalation of hostilities in Iraq kept fears of Middle East supply disruptions at the forefront of traders minds. The fall of about $1/B on 18 May was attributable to investors taking profits ahead of weekly US stocks data due the following day. The data proved bullish, showing smaller than anticipated increases in gasoline stocks in...