Oil prices stabilised today after OPEC producers gave reassurances over the security of world supplies in the wake of yesterday's attacks on the US.
Benchmark Brent blend crude futures eased 26 cents to $28.80 a barrel after a $1.61 jump on Tuesday that came in the wake of the suicide flights.
Despite some emergency measures among import dependent Asian countries, dealers in Asia, Europe and the US said there was no sign of panic buying. Exports from big producers and transatlantic shipments were running as normal.
Traders said they saw little chance of any impact on deliveries from the Middle East, despite lingering worries that the attacks could be linked to recent violence in Israel.
Many took the view that faltering growth in world oil demand growth was likely to evaporate as a result of lower consumer confidence and threat of world recession.
