VOL. XLIV

No 35

27-August-2001

OIL PRICES

Oil Prices Shrug Off Supportive US Stocks Data

Oil prices rose in the week to 23August but remained in a lower range than the previous week, despite a secondsuccessive round of sharp drawdowns in US oil inventories, with ongoing concernabout US 3Q and 4Q demand and general US economic gloom undermining sentiment.Some support for prices during the week came from Tropical Storm Chantal,despite little evidence that it would hit Gulf of Mexico oil facilities,...