Middle East Economic Survey

VOL. XLVIII

No 2

10-January-2005

Crude Prices Increase On US Heating Oil Fears

Crude prices held steady early last week as Nymex and the IPE returned to normal trading after the holiday period, with mild weather in the US providing a slightly bearish outlook. Given the absence of news of supply disruptions, it was anticipation of the publication of weekly US stocks data on 5 January which took prices upwards the day before. However, an unexpectedly large build in US...