Middle East Economic Survey

VOL. XLVIII

No 29

18-July-2005

Crude Prices Roiled By Storms, Soothed By Data

Traders kept a keen eye on Gulf of Mexico weather reports last week, trimming their positions with a view to potential disruptions of offshore crude oil production and onshore refining as Hurricane Dennis passed inland and tropical storm Emily gathered strength and headed shoreward. This unusually boisterous start to the storm season kept WTI prices bobbing around the $60/B mark, but the...