26 March 2003, 15:06  Dollar steadies as war fears ease

/www.k2kapital.com/ The volatility which has beset financial markets since the start of the Iraq war petered out as steady progress by US and UK troops eased fears over a protracted conflict. The dollar and gold held their ground, while bond prices proved mixed, in morning trade. While the price of oil resumed its rise, with Brent crude standing $0.59 higher at $25.40 the increase was blamed on broader supply fears. Besides the impact of the war on Gulf production, a squeeze on Nigerian shipments, prompted by an uprising by ethnic militants, has cut 8917,000 barrels of oil a day from the market. The broad stability boosted appetite for shares, with all major European markets standing higher in late morning trade.

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