VOL. XLV
No 22
3-June-2002
OIL PRICES
Weak Demand Takes More Than $1/B Off Crude Prices
Benchmarkprices fell further last week as market speculators continued to reduce theirlong position in crude oil. With the heat taken out of the Israel-Palestinesituation and the US-Iraq conflict for now, and reports of increasing crudesupplies, market traffic was dominated by hedge funds liquidating theirspeculative long position on crude oil and moving into other commodity markets.While OPEC is due to meet...
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