VOL. XLVI

No 38

22-September-2003

OPEC

OIL PRICES

Crude Prices Fall Further On Record US Imports

Crude oil prices continued their descent last week as hedge funds further reduced their long positions in crude and gasoline markets, taking the decline to around $2/B over the last two weeks. The continuing hedge funds exit kept trading volumes high, but there was little news affecting the crude market so traders bought and sold in line with their market pricing models. Hurricane Isabel went ashore in...