VOL. XLVII

No 19

10-May-2004

OIL PRICES

Crude Prices Pushed To New 13-Year Highs By Middle East Security Fears

Crude oil prices rose last week to their highest level since October 1990, and near to their all-time high, after a weekend attack on the Saudi industrial city of Yanbu heightened fears of deteriorating security in the Middle East, and consequent supply disruptions. Although Saudi Aramco pointed out that oil operations were not affected, the US government advised its citizens to leave the...