VOL. XLVI

No 37

15-September-2003

OIL PRICES

Crude Prices Mark Time On Mixed Stock Data

Crude oil prices moved sideways last week, with early trading seemingly driven by hedge funds covering their short positions and later support coming from weekly US stocks data published on 10 September, which showed an unexpected crude stockdraw. Although the stocks data showed bearish rises in both gasoline and distillates inventories, traders appeared most concerned about the fall in US crude imports, from...