April 28, 2007	Saturday	Rabi-us-Sani 10, 1428

LONDON, April 27: World oil prices crept ahead on Friday in muted trade ahead of the weekend, as traders set aside data which showed a dramatic slowdown in the US economy.

In London, the price of Brent North Sea crude for June delivery firmed one cent to $67.66 per barrel in electronic trading.

New York's main oil futures contract, light sweet crude for delivery in June, rose 24 cents to $65.30 per barrel in floor trading.

The US economy weakened in the first quarter of 2007, expanding by just 1.3 per cent, its worst pace in four years, the US government announced Friday.

However, crude futures held firm despite the prospect of reduced demand in the world's biggest energy-consuming nation.

“Crude futures were almost unchanged today (Friday) in sideways trading,” said Michael Davies, an analyst at the Sucden brokerage in London.

However, oil price losses were capped this week by concerns over weak US gasoline reserves heading into the peak-demand season for motor fuel, when the driving season starts next month in the United States.

The US Department of Energy had said that motor fuel reserves sank by 2.8 million barrels in the week ending April 20.—AFP