TITLE

The New Market Paradigm

PUB. DATE
May 2005
SOURCE
Middle East Monitor: The Gulf;May2005, Vol. 15 Issue 5, p1
SOURCE TYPE
Country Report
DOC. TYPE
Country Report
ABSTRACT
The article discusses the rise in oil prices in Middle East. It is a speculative-driven boom, with prices propelled by herd mentality among market participants. The key fact about oil is that it is traded at the margin, with large price movements on the basis of comparatively small changes to market fundamentals. However, the recent spike in oil prices, which one anticipate will last for most of this year, reflects more fundamental fears that demand growth as a result of Chinese economic expansion in 2005 and beyond will result in an irreconcilable shortage of supply.
ACCESSION #
16701732

 

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