Middle East Economic Survey

VOL. XLVIII

No 44

31-October-2005

OIL PRICES

Oil Prices Edge Ahead Amid Stronger Implied US Demand Data

Oil prices edged slightly higher last week with front month IPE Brent futures trading a range mostly below the $60/B level as Hurricane Wilma sidestepped most oil and gas installations in the Gulf of Mexico and US oil stock data showed an unexpectedly high stock build for crude. But more significantly, the data indicated stronger implied demand across the board,...