VOL. XLIV

No. 19

7-May-2001

CRUDE OIL/LPG PRICES

US Market Sole Driver Of Crude Prices

Last week the US crude oil market was the sole driver of oilprices: WTI and Brent prices moved upwards early in the week after news of yetanother US refinery outage and then moved down later following evidence of alarger than anticipated gasoline inventory build. Central to the US gasolinetightness is not a shortage of crude oil but insufficient refining capacity, asituation which was noted by Vice-President...