VOL. XLVII

No 18

03-May-2004

OIL PRICES

Crude Prices Rise Again On Middle East Tensions And Gasoline Squeeze

Crude prices rose last week, with WTI nearing and Brent setting 13-year highs, as continuing hostilities in Iraq fed concerns over a supply disruption, and the US gasoline squeeze continued to boost demand for WTI and other light sweet crudes. A meeting of US government agencies and industry representatives on 22 April decided against relaxing sulfur limits on imported gasoline, thus...