VOL. XLVI

No 33

18-August-2003

OIL PRICES

Crude Prices In The Sway Of Supply Security

Crude oil prices were undermined last week by signs of an improvement in the prospects for a return to more normal Iraqi exports. Yet the broader political security position worsened, suggesting that traders may remain jittery about oil supply concerns for the foreseeable future. In the previous week, speculative hedge funds had built up a record long position on NYMEX crude oil futures, and some of last weeks...