VOL. XLV

No 23

10-June-2002

OIL PRICES

Crude Prices Tied By Supply-DemandUncertainty

Uncertaintyabout the supply/demand outlook kept crude prices rangeboundlast week. Once again, while US weekly stocks data gave no clear picture ofdemand trends, fresh Israel-Palestine tensions gave some support late in theweek. The evidence of US demand figures was bearish on balance, yet prices werekept from falling by short-covering and an underlying perception that US demandmight be stronger than recent weekly...