Middle East Economic Survey
VOL. XLVII
No 48
29-November-2004
US Heating Oil Concerns Outweigh Crude Oversupply To Boost Prices
Concerns over US heating fuel stocks outweighed further evidence of a crude oil oversupply to drive prices higher last week. The price support came despite weekly US stocks data on 24 November which showed an increase in the countrys distillates inventories for the first time in 10 weeks. Traders saw little in the data to ease longer-term worries over winter fuel...
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