OGJ Newsletter

07/29/2002
Market MovementTriple threat could drive up energy prices, curtail economic growthThe triple threat of political tensions in the Middle East and Latin America, dwindling US exploration for natural gas, and limited access to known low-cost reserves could drive up energy prices and curtail economic growth, warned an energy analyst at Standard & Poor's."Due to political and economic unrest in regions that hold some of the world's greatest reserves of oil and natural gas, crude oil spot prices climbed over 30% in the US during the first half of 2002. Natural gas spot prices were up over 16%," said Tina Vital, S&P oil and gas equity analyst.Conflict between Israel and Palestine has alr...
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