VOL. XLIV

No. 28

9-July-2001

OIL PRICES

Crude Prices Hover As Markets Await Demand Signals

Crude prices rose early on 2 July as it became evident that OPEC would roll over its production targets at the ministerial meeting the following day, but declined overall on the day due to news of the UN deadlock over smart sanctions, which was expected to lead to a return to the market of Iraqi exports. The price of WTI and Brent then hovered as if waiting to see whether supply or demand concerns would...