Middle East Economic Survey
VOL. XLVIII
No 19
9-May-2005
Crude Prices Hovering On Market Uncertainties
Crude prices hovered around the psychological level of $50/B for WTI last week, as evidence of adequate crude and gasoline supplies for the short-term was countered by the contango in futures markets caused by the expectation that demand will rise later in the year. On 3 May IEA Executive Director Claude Mandil told reporters: We think the high price of energy oil, gas and coal is hurting the...
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