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March 20-24, 2000 / Farvardin 1-5, 1379
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Latest
* NYMEX crude ends higher
Previous
* Smuggled Iraqi gas oil said worth
$500 mln-$1 bln
* Oil steadies after heavy pre-OPEC sell-off
* Persian rugs' future in U.S. unclear
* U.S.: OPEC will up production
* Oil steadies after drop from historic high
* U.S. bill would cut OPEC aid for fixing oil prices
* Iran to export 400 million dollars of carpets to US
* Iran merchants say little gain expected from US lifting
of embargo
* Conoco Chairman on Secretary Albright's Iran Speech
* Pakistan backs planned Iran-India gas pipeline via its
territory
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Friday,
March 24, 2000
* NYMEX crude ends higher as uncertainties cloud OPEC meeting
NEW YORK, March 24 (Reuters) - Crude oil futures on the New York Mercantile
Exchange (NYMEX) settled sharply higher Friday amid uncertainties clouding
a critical output-policy meeting of OPEC on Monday, traders said. Short-covering
ahead of the Vienna meeting of the cartel's oil ministers kept the front
month May crude just below $28 a barrel near the close before settling
at $28.02, a gain of 71 cents on the day.>>>
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Thursday
March 23, 2000
* Smuggled Iraqi gas oil said worth $500 mln-$1 bln
UNITED NATIONS (Reuters) - The value of gas oil smuggled by Iraq through
Iranian waters, in defiance of U.N. sanctions, could total between $500
million and $1 billion this year, or more than in all four previous years,
a U.N. committee was told on Thursday. Western diplomats said that was
stated in a briefing of the 15-nation U.N. Iraq Sanctions Committee by
U.S. Vice Adm. Charles Moore, coordinator of a Multinational Interception
Force (MIF) empowered to stop and search vessels in the Gulf suspected
of carrying contraband >>>
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* Oil steadies after heavy pre-OPEC sell-off
LONDON, March 23 (Reuters) - Oil prices edged a little higher on Thursday,
stemming a heavy slide over recent weeks from record heights in anticipation
of an OPEC deal to raise exports. North Sea Brent blend futures rose 10
cents to close at $25.50 a barrel against a Thursday high of $25.79, while
U.S. light crude gave up nine cents to end at $27.37 from a high at $27.78.
>>> FULL
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Wednesday
March 22, 2000
* Persian rugs' future in U.S. unclear
NEW YORK (AP) -- Hundreds of exquisite Oriental rugs line the walls
of Sol Kalati's dim Manhattan warehouse. Rolled and upright, the thick
trunks of these masterpieces -- likely the only art made to be trod on
-- burst with ivory arabesques and crimson medallions. Kalati peers through
the thick of his rug forest and shrugs. The United States is allowing Persian
rugs to be imported for the first time in 13 years but, he asks, what does
it matter now? >>>
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* U.S.: OPEC will up production
PARIS U.S. Energy Secretary Bill Richardson expressed confidence
Wednesday that oil-producing nations will increase production in a move
likely to reduce soaring oil prices. "One month ago, most said that
an increase in oil supply was not needed," Richardson said during
a break in talks with representatives of OPEC nations. "Today, most
say that there is a need to increase output." >>>
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Tuesday
March 21, 2000
* Oil steadies after drop from historic high
LONDON, March 21 (Reuters) - World oil prices steadied on Tuesday having
plunged from historic highs in the last two weeks on signals that major
exporters will ease supply curbs next month. International benchmark Brent
Blend crude oil futures for May delivery recovered to end 51 cents higher
at $25.72 per barrel, having slumped $1.35 per barrel on Monday. >>> FULL TEXT
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* U.S. bill would cut OPEC aid for fixing oil prices
WASHINGTON, March 21 (Reuters) - The U.S. House of Representatives,
looking to halt the rise in oil prices, is set to vote Wednesday on legislation
to cut off U.S. aid and arms sales to oil producing countries that try
to fix crude oil prices. Lawmakers are hoping the legislation, which is
opposed by the Clinton Administration, will pressure OPEC (Organization
of Oil Exporting Countries) to raise its oil production levels as the cartel
gathers in Vienna next Monday to decide its new output policy.>>> FULL TEXT
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Monday
March 20, 2000
* Iran to export 400 million dollars of carpets to US
TEHRAN, March 19 (AFP) - Iranian merchants plan to send 400 million
dollars worth of Persian carpets to the United States after Washington's
decision to lift sanctions, an industry spokesman said in Sunday's press.
Akbar Harischian, president of the association of Iranian carpet exporters,
told the Fath daily it was the first stage in an export drive designed
to exploit the opening of the US market, which he described as of great
importance >>>
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* Iran merchants say little gain expected from US lifting of embargo
TEHRAN, March 18 (AFP) - Iranian merchants said here Saturday that a
US decision to end the embargo on Persian carpets and other non-oil exports
would have little immediate effect on their business. "The decision
will enrich dealers in Europe and Canada. They already have a stockpile
of Persian carpets ready to flood the American market," said Tehran
rug dealer Fereydon Ayromlou >>>
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* Conoco Chairman on Secretary Albright's Iran Speech
HOUSTON--(BUSINESS WIRE), March 20, 2000 -- Conoco (NYSE:COCA - news;
NYSE:COCB - news) Chairman and CEO Archie W. Dunham today issued the following
statement in response to the Clinton Administration's lifting of some trade
sanctions toward Iran: ``There is more to the Administration's actions
taken last week regarding relations with Iran than the lifting of prohibitions
against the importation of luxury items into the United States >>> FULL TEXT
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* Pakistan backs planned Iran-India gas pipeline via its territory
ISLAMABAD, March 20 (AFP) - Pakistan has assured Tehran of its full
support to a proposed Iran-India gas pipeline through Pakistani territory,
an official statement said Monday. The assurance was given by an official
Pakistani delegation which visited Tehran last week for talks on cooperation
in the oil and gas sector >>>
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