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January 24, 2002
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Thursday
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Ziqa’ad 9, 1422
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Oil price firms
LONDON, Jan 23: The price of oil firmed here on Wednesday trading amid expectations of a fall in stock levels of crude-based products in the United States because of cold weather.
A barrel of Brent North Sea crude for February delivery rose to $19.02 a barrel from 18.75 on Tuesday evening.
In New York, February-dated light sweet crude futures rose 34 cents a barrel on Tuesday to $18.34.
But the market was also looking for an increase of 1.65 million barrels in gasoline stocks and a rise of 1.35 million barrels in crude inventories, he added.—AFP
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