VOL. XXXVII
NO. 33
16-MAY-1994
Oil Market
Supply Fears Spark Buying Spree And Large Crude Price Rise
In the six weeks since OPEC's end-March accord, crude oil traders haveundergone a remarkable change of heart - seemingly en masse. Since that event,a combination of factors - not least among them the abrupt about-face in marketpsychology - have helped propel oil prices upward by over $4.00/B. Last week thenew bullish market sentiment was compounded by a fit of panic buying as worriedtraders...
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