US crude future jumped more than 10% from $79.02 a barrel on October 8 to an intraday high of $88.20 on October 17. But according to Fimat, supply-demand fundamentals have not noticeably changed in the last 10 days.It said “a toxic brew” of bullish statistical reports — from the IEA, US DOE and OPEC —…
MARKETS: Crude oil rally bound to run out of steam, says Fimat
Posted on October 17, 2007 by EnergyAsia