Crude oil prices that slipped by US$2 on Wednesday have not risen so far. Prices have stayed virtually stable below US$64, easing some worries in the market. New York's main contract of light sweet crude oil for delivery in September eased to US$63.20 per barrel, while the price of Brent crude oil for delivery in October fell to US$62.44 per barrel in London.
Supply fears that had mounted due to the US refinery problems had pushed New York futures to a historic high of US$67.10 last week, and London's Brent crude to US$66.85 on Monday. However with crude oil inventories rising by about 0.3 million barrels to 321.1 million barrels in the week to August 12, traders' worries have eased.
The strong supplies are a possible result of many US refineries working at almost full capacity.
20-Aug-05 
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