Prices slipped as the tug of war between supply anxiety and demand concerns remained in favour of the latter for a second week running. Europe led the way down as Atlantic basin marker North Sea Dated slipped by $1.69/bl to $84.18/bl in the week to 24 August, almost $4.20/bl off its 11 August high for the year. US benchmark WTI dropped by 68￠/bl to $79.71/bl, cushioned by a fall in domestic crude stocks. Only key Mideast Gulf grade Dubai eked out a small gain, of 10￠/bl, as it closed at $84.96/bl in the Singapore market.
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