Middle East Economic Survey

VOL. XLVIII

No 31

1-August-2005

Crude Prices Hold Steady Around Mixed Stocks Data Then Rise On Supply Outages

Crude oil prices held steady early last week after a period of turbulent trading. Prices were initially supported by Chinas currency revaluation, which it was thought could revive crude imports, and short-covering in case tropical storms Gert and Franklin added to the impact of earlier hurricanes which disrupted offshore oil production and refining on the Gulf...