LONDON, Sept 20: Oil prices were steady on Friday as the prospect of a war in Iraq and a recent decision by the Opec oil cartel to extend output curbs kept prices well bid.
Reference Brent North Sea crude oil was changing hands for $28.42 against 28.38 at the previous close. In New York, the benchmark light sweet crude October contract inched up two cents a barrel to $29.50.
Traders were reluctant to sell ahead of the weekend while the spectre of an attack on Iraq looms over the market. Oil prices have bounced back from losses sparked by Baghdad’s offer earlier in the week to readmit weapons inspectors.—AFP
