Oil prices saw marginal movement amid concerns over production in the North Sea. Chevron Corp. and ConocoPhillips have reported that the closure of the North Sea's Central Area Transmission System gas pipeline would reduce oil production at two fields.
Light, sweet crude for August delivery rose to US$73.98 a barrel in Asian electronic trading on the New York Mercantile Exchange, midmorning in Singapore. August Brent rose to US$77.59 a barrel on the ICE Futures exchange in London.
A report Friday from the International Energy Agency saying global energy consumption in 2008 will likely rise at its fastest clip in recent years also supported prices.
16-Jul-07 
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