Oil Prices Go Up Despite U.S. Second Attack on Iraq

February 24, 2001 - 0:0
TEHRAN Oil prices in the international market go up despite second U.S. attack on Iraq, wire copies report said yesterday

U.S. light crude eased four cents to $28.83 a barrel in Singapore afternoon trade having gained 27 cents on Thursday.

Dealers said Thursday's air strikes left oil little changed because they saw no impact on already erratic Iraqi crude supplies.

Iraqi officials said this week Baghdad had no intention of altering export policy after air strikes last Friday by British and American planes.

Iraqi oil sales under the U.N.-monitored oil-for-food exchange have been running below par since December because Baghdad has asked some customers for an unauthorized surcharge.

U.S. planes on Thursday fired on a northern Iraqi no-fly zone in what the U.S. military said was a response to Iraqi anti-aircraft fire and radar targeting near Mosul.

U.S. President George W. Bush warned Iraq of unspecified "consequences" if Baghdad attempted to develop weapons of mass destruction.