VOL. XLV

No 48

2-December-2002

OIL PRICES

Oil Prices Hold On To Recent Gains As US Stocks Continue To Slip

Oil prices were steady in a trading week shortened in theUS by the Thanksgiving Day holiday, which closed NYMEX on November 28-29. Oil prices held onto the previous weeks gains, underpinned by data showing that US crude and distillate (including heating oil) stocks continue to slip below seasonal norms as well as continued concern about the possibility of an escalation in tensions between...