Middle East Economic Survey


No 24


Dollar Strength The Catalyst For Distillates-Driven Crude Price Rise, Says SG

Gasoline demand in the US driving season normally dominates the summer oil market, but this year, anything goes, according to Société Générale (SG). In the Weekly Oils report of 6 June, SG analysts Frédéric Lasserre and Alexandre Kervinio write: The recent acceleration in crude prices came exclusively from distillate for two fundamental reasons. First, because...