1. Brent fell because few buyers sought North Sea crude oils as buyers expected lower prices once Iraqi supplies flood the market.
2. In the meantime, refiners have not wanted to keep inventories on hand that would probably decline in value with the arrival of Iraqi supplies.
3. The resumption of Iraqi supply coincides with higher production quotas within the Organization of Petroleum Exporting Countries which are also likely to weigh on prices, analysts said.
4. With Iraqi crude supplies out of the picture, traders focused instead on declining supplies in the U.S.
5. However, as military strikes against Afghanistan extended to day five, traders saw the possibility that Iraqi crude supply may be volatile in the next couple of months.
6. Jordan says there is a tacit U.N. approval for the Iraqi supplies, which are trucked across the desert border from Baghdad.
7. U.N. disburses funds for Iraqi humanitarian supplies.
8. In exchange Jordan would enjoy renewed ties with Gulf Arab states which would provide it with oil to replace Iraqi supplies.
9. A sand quarry close to the target area was used as an Iraqi supply dump, while the wreckage of Iraqi artillery lies near the entrance to the range.
10. The United States has urged Jordan to find alternatives to Iraqi oil, but the kingdom has not yet heeded the calls to cut off Iraqi supplies.