VOL. XLVI

No 46

17-November-2003

OPEC

OIL PRICES

Crude Prices Rise On Middle East Tension And Bullish Demand Outlook

Crude oil prices strengthened last week after bombings in Saudi Arabia and in Iraq raised traders concerns of potential supply disruptions from the Middle East. Although the market reaction was muted, the heightening tension in Saudi Arabia along with growing anti-Coalition activity in Iraq is now a significant factor underpinning prices at a time when commercial inventories are low...