Middle East Economic Survey

VOL. XLIX

No 3

16-January-2006

OIL PRICES

Investment Funds Have Created A Floor For Crude Prices, Says SG

Demand for petroleum futures contracts from investment funds has had a substantial impact not only on spot prices but also on the forward pricing curve, according to Société Générale (SG). In the Weekly Oil Drivers report of 9 January, SG analyst Frédéric Lasserre observes: Despite the fact that commodity indices are constructed on first contracts, banks tend to...