VOL. XLV

No 33

19-August-2002

OIL PRICES

Oil Prices Firmer On US Stock Draws And Iraq Shortfall

Oil prices climbed in the week to15 August on the back of sharp declines in weekly US oilinventory data and ongoing shortfalls in Iraqi exports. The market alsocontinues to be underpinned by medium-range concerns about a US-led attack onIraq, which has provided a floor to the market and prevented front month Brentfutures from falling below $23.00 since mid-March and below $24.50 since lateJune (see...