Middle East Economic Survey

VOL. XLVII

No 41

11-October-2004

Crude Prices Head Skywards On US Outages, Distillate Supply Fears And Nigerian Strike

Crude oil prices continued the markets record-breaking run last week, with Gulf of Mexico production struggling to recover after Hurricane Ivan and fears growing for heating oil supplies as stocks continued to decline and forecasters predicted a cold winter. Prices initially eased after Nigerian insurgents withdrew a threat to attack Niger Delta oil...