VOL. XLVI

No 11

17-March-2003

OIL PRICES

Oil Prices Slide As UN Wrangling And Warmer Weather Spark Profit-Taking

Oil prices slid by nearly $2/B over the past week as ongoing wrangling between UN Security Council members over a second resolution on Iraq and forecasts of warmer weather in key US heating oil demand areas triggered a bout of profit-taking. Market sources suggested that US statements on 13 March that diplomacy would be given additional time combined with reports that Iraq was preparing...