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Iraqi crude inflow hits Urals. (Crude market).(Brief Article)
* Iraq continued to dominate crude markets. Outright prices strengthened as the UK government published a "dossier" detailing the Iraqi regime's attempts to acquire weapons of mass destruction. Dated BFO ended the week up by 64[c]/bl at $29.24/bl.
* Urals' discount to dated BFO widened in the Mediterranean and northwest Europe as increasing numbers of European refiners, all regular buyers of Urals, signed contracts to purchase Iraqi crude. TotalFinaElf was in the vanguard, signing a deal to take 5mn bl of Kirkuk over the next two months. ExxonMobil, the key buyer of Urals in northwest Europe, avoided a direct contract but stepped up spot buying of Iraqi crude for its …
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