Middle East Economic Survey

VOL. XLVII

No 45

8-November-2004

US Election Roils Crude Prices

Crude oil prices were caught up in the currents of the US presidential election last week, sinking when markets sensed that Senator Kerry might win, but bobbing back up once it became clear that President George W Bush was in the lead. Analysts saw a Kerry win as potentially changing US policy towards the Middle East and towards the burning of fossil fuels, but the Bush victory announced on 3 November...