“US forward fundamentals” or expectation of the future have been actively driving oil price behaviour this year, said the US Department of Energy. In its latest weekly report, it argues that prices today reflect perceptions of the supply/demand balance sometime in the not-too-distant future. It reported: “When the price of West Texas Intermediate (WTI) crude…
MARKETS: DoE notes US forward fundamentals at work in setting oil prices
Posted on November 22, 2002 by EnergyAsia