July 22, 2006	Saturday	Jumadi-ul-Sani 25, 1427

LONDON, July 22: Crude oil prices eased on Friday, remaining below recent record peaks as traders paused for breath after a week of volatile trading, dealers said.

New York's main contract, light sweet crude for delivery in September, dipped by 12 cents to $74.15 per barrel in pit trade.

In London, Brent North Sea crude for September delivery handed back 13 cents to $73.59 per barrel in electronic deals.

“With the violence in the Middle East being contained to Israel and Lebanon, more of the security premium is being let out of prices,” said Fimat analyst John Kilduff.

The market had earlier found support in production problems at two US refineries. North American refiner Valero Energy Corp. had announced on Thursday that it had shut a gasoline-making unit at its St. Charles, Louisiana, refinery for repairs.—AFP