No 08


Crude Prices Rise As WTI Squeeze Widens Differentials

Crude oil prices rose last week because of buoyant demand for light sweet crude in the US and uncertainty about how and when OPEC would enforce quota discipline and supply cuts of 1mn b/d from 1 April, which were agreed at its 10 February meeting (MEES, 16 February). With low US inventories already putting the squeeze on prices, tighter fuel specifications have encouraged refiners to increase their intake of...