VOL. XLVI

No 26

30-June-2003

OIL PRICES

Crude Prices Hold Steady Underpinned By US Stockdraw

Crude prices held steady last week, supported by weekly US inventories data which showed a sharp decline in crude stocks, against expectations for a stockbuild of about 1mn barrels. The growing evidence of Iraqi security problems, looting and sabotage in the oilfields and along pipeline routes has dimmed prospects for a swift resumption of normal exports, underpinning prices at these levels. Iraqi supplies...