US moves to dampen oil prices

greenspun.com : LUSENET : Grassroots Information Coordination Center (GICC) : One Thread

US moves to dampen oil prices Source: The Independent - London Publication date: 2000-08-25

THE UNITED STATES last night said it could release some of its strategic oil reserves if crude prices continue to trade near 10- year highs. Oil prices have climbed 15 per cent this month alone, powered most recently by fears of a shortage of US heating oil this winter. The oil-producing cartel Opec yesterday responded to calls to raise output from the US President, Bill Clinton, and the European Union, saying that it would act if prices stayed at current levels. The benchmark Brent contract eased 39c to close at $30.30 a barrel last night.

http://cnniw.yellowbrix.com/pages/cnniw/Story.nsp?story_id=13179179&ID=cnniw&scategory=Energy%3AOil

-- Martin Thompson (mthom1927@aol.com), August 25, 2000


Moderation questions? read the FAQ