LONDON. June 5: Oil prices weakened this week as support ebbed from a market sustained in recent weeks by output cut pledges from oil producer countries.

On the International Petroleum Exchange (IPE), Brent North Sea-crude for July delivery was being traded at 14.98 dollars a barrel from 15.36 dollars.

On the New York Mercantile Exchange, light sweet crude for July fell to 16.74 dollars a barrel from 17.17 dollars.

Prices suffered further from rumours that Anglo-Dutch giant Royal Dutch/Shell raised its Nigeria output to one million barrels a day. dealers said.

Prices regained some strength towards the end of the week as American crude reserves. fell and Saudi Arabia

said it was sure that member states from the Organization of Petroleum Exporting Countries (OPEC) were respecting output cuts agreed in April.

RUBBER: Melt. Rubber prices continued to fall amid a lack of industrial buyingj

The London rubber index fell to 432.60 pounds per tonne (June delivery) and 437.50 pounds (for July) as against 452.50 and 457.50 last week.

The RSS1 index on the Kuala Lumpur market closed slightly higher, however, at 2.33 ringgits a kilo from 2.31 ringgits.

COCOA: Warm. Cocoa prices advanced strongly on the London futures market, gaining 98 eunds per tonne to 742 pounds

' September delivery.

The market was encouraged to learn that Ghana had sold 100.000 tonnes of cocoa beans,

interpreting the move as a sign that its sales will now cease for a while.

Moreover, the authorities in Cote d' Ivoire said Wednesday that the world's leading producer had already sold its entire production for the 1998-99 season, reassuring a market which has been depressed in recent weeks at the size of the Ivorian harvest.

COFFEE: Cool. Coffee prices eased through the week despite continuing (ears of a Brazilian frost.

On the New York market, the price of Arabica for September delivery was largely flat, inching up 0.2 cents to 124.55 cents a pound.

Robusta prices on the London market fell by 38 dollars to 1,520 dollars a tonne (for July).

Market players were still .

closely watching for signs of the kind of frost in Brazil which devastated plantations in 1994 and which meteorologists failed to forecast.

TEA: Cosy. Demand for tea remained solid in the Mobasa auction houses, according to the London Tea Brokers Association.

High quality BPI (Broken Pekoe) leaves were mixed, some lots gaining up to 11 cents a kilo while other lost up to nine cents.

PF1 (Pekoe Fannings) leaves gained up to 20 cents a kilo.

SUGAR: Sparkle. Sugar grices continued their ascent on opes that Brazil would eat into its production surplus and on technical trades..

In London. October contracts rose to 181.70 dollars a tonne from 177.90 dollars.

VEGETABLE OILS: Warming. US soya prices rose a hot. dry weather beat down on growing regions in south-eastern United States, sparking fears of reduced yields.

Dealers said that prices als,o received a fillip from higher grain prices.

On the Chicago Board of Trade (CBoT). soya prices rose by 12 cents to 4.65 dollars a bushel (for July.).

GRAINS: Strong. US wheat prices rose after heavy rainfall soaked plantations on the Great Plains.

The US agriculture department said that the rams delayed completion of the sowing of spring wheat.

Maize prices rose on technical trades in the slipstream of wheat.

On the Chicago market.

wheat prices rose by 11 cents to 2.61 dollars a bushel (of 27.2 kg. for July delivery).

Maize prices rose by seyen cents to 2.23 dollars a bushel (of 25.4 kg. for July.)

European prices fell amid quiet trading conditions.

On the London market, wheat prices lost 10 pence to 79.40 pounds a tonne (tor July).

COTTON: Float. Cotton prices rose slightly in the light of buying from Mexico and Turkey.

Dealers breached for an expected rise in production from China, but added that prices were unlikely to fall sharply because of rain damage to plantations inr Texas.

Cash prices covered by the Cotton Outlook index rose to 59.90 cents a pound from 59.85 cents.