Singapore (Platts)--26Jul2007

Crude oil prices rose in overnight trade late Wednesday on the back of
US data showing falling oil stocks. 

     On the New York Mercantile Exchange, light sweet crude futures rose to
$76.21/b at 0300 GMT Thursday compared with $73.27/b at the close of Asia
trading hours Wednesday. During the same period, September cash Brent
increased $1.86/b to $76.57/b.

     Crude costs rose on weekly US oil data showing declines in US stocks. The
Energy Information Administration reported an overall decline of 1.1 million
barrels in US commercial crude stocks and a 1.4-million-barrel decline in
inventories at Cushing, Oklahoma, home of the NYMEX contract's delivery
point. 

     It was the ninth consecutive week that stocks at Cushing have fallen,
alleviating what had been a backlog of barrels in the US Midwest.