Middle East Economic Survey

VOL. XLVIII

No 33

15-August-2005

Supply Concerns Pushed Crude Prices To Record Levels, Says CSFB

Supply concerns are now driving crude oil markets and have pushed prices to record levels above $60/B for WTI and Brent, according to Credit Suisse First Boston (CSFB). The CSFB Global Oil Daily of 8 August lists Saudi Arabia and Iran as the latest pressing concerns: The US closed its embassy in Saudi Arabia for security reasons. Iran, OPECs second largest producer, rejected...