July 26, 2003	Saturday	Jumadi-ul-Awwal 25, 1424

LONDON, July 25: Oil prices steadied on Friday as the market corrected itself somewhat in quiet trading following the previous day’s rises over jitters about Iraq.

The price of benchmark Brent North Sea crude oil for September delivery was down four cents to $28.12 per barrel.

New York’s light sweet crude reference September contract was showing a rise of 18 cents to $30.40 in early trading.

In US trading overnight, prices crept up as optimism began to ebb away that the deaths of Uday and Qusay would bring more stability to post-war Iraq, thus helping the country boost its oil exports.

“I think people got caught out by the strength of the market yesterday,” said GNI trader Rob Laughlin.

“Sentiment is quieter today, but I think prices remain supported around the $27.40-$27.45 area,” he said, referring to the Brent price.—AFP