Oil prices slide

Published April 3, 2003

LONDON, April 2: Oil prices slid further on Wednesday as US troops launched a major push near Baghdad, despite the stated reluctance of oil majors in unrest-stricken Nigeria to resume stalled production.

The price of reference Brent North Sea crude oil for May delivery dropped $1.16 per barrel to $25.20.

And New York light sweet crude oil for May delivery slid 85 cents to $28.13 in early trading.

The price falls came despite oil majors in Nigeria saying they were unwilling to resume production in the country’s strife-wracked Niger Delta region, despite the cancellation of a planned labour strike.—AFP