VOL. XLV

No 27

8-July-2002

OIL PRICES

Benchmark Prices Steady Above $25/B In Quiet Trading

Overthe past week, the main benchmark crude prices held remarkably steady above$25/B, in contrast to global stock markets which were stormy in the wake of theUS accounting scandals. Trading was thinner than normal, withNYMEX traders squaring their books and covering short positions ahead of theIndependence Day holiday on 4 and 5 July. Trading on the IPE was quiet, too,with players weighing up the potential...