Oil prices steady below $25 a barrel

Published April 3rd, 2001 - 02:00 GMT

Oil prices held steady on Monday with few fresh factors affecting market sentiment, dealers said. 

 

A barrel of Brent North Sea reference crude for May delivery was selling for $24.74 in London on Monday afternoon, unchanged from the overnight level. The price had peaked at $24.90 earlier in the morning. 

 

In New York, the May light sweet crude contract rose 11 cents to $26.40.  

 

The basket price of seven world crudes which the Organisation of Petroleum Exporting Countries (OPEC) uses to guide production policy fell further on Friday to $22.79 a barrel from $22.95, according to the cartel's OPECNA information agency. OPEC is targeting a basket price of $25.—AFP. 

©--Agence France Presse 2001. 

 

© 2001 Mena Report (www.menareport.com)

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