U.S. INDUSTRY SCOREBOARD 3/8 [43,869 bytes]
A brief boost in oil prices was expected to subside at presstime, as news broke that an Iraqi oil export pipeline, briefly shut down as a result of a U.S. air strike, was restored to its full 1 million b/d capacity.
The U.S. is stepping up strikes against Iraqi military targets because Iraq is repeatedly violating no-fly-zone rules. Baghdad claims one of the strikes damaged a pipeline taking oil to Turkey, halting the flow of crude to the Turkish port of Ceyhan and halving Iraq's exports. The Pentagon denied that, saying its targets included an air defense command post, a radio relay station, and a surface-t...