VOL. XLV

No 20

20-May-2002

OIL PRICES

Crude Prices Choppy On Supply Concerns,US Gasoline Stock Build

Crude prices werejolted upwards last week by talk of a potential crude supply shortfall, butretraced lower later in the week due to a combination of higher USgasoline inventories and the consequent implied weak gasoline demand. The slidein prices was also tied to Iraqsacceptance of new oil-for-food terms agreed unanimously by the UN SecurityCouncil on 14 May. The price surge early in the week was...