Middle East Economic Survey
VOL. XLVIII
No 10
7-March-2005
US Gasoline Surge Pulls WTI Above $53/B While OPEC Basket, Brent Hit Record Highs
A surge in NYMEX gasoline futures to a new peak on 2 March overwhelmed neutral weekly US crude oil stocks data to pull crude prices higher. That day WTI settled above $53/B, Brent hit a new intra-day high of $53 and the OPEC Basket price topped $47/B. These were the highest WTI and Brent prices since the record-breaking run in late October (MEES, 1 November...
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