Middle East Economic Survey

VOL. XLVIII

No 16

18-April-2005

MEES Agenda

Oil Price Contango A Key Factor In Market Outlook

Crude oil prices reached a new peak in early April on fears of a summer gasoline shortfall and conjecture that a $100/B oil price spike was a possibility, then tumbled on the realization that gasoline stocks were adequate short-term, with some traders even sensing that the bull run was ending. David Knott discovers that products availability rather than crude supply is now the...