OGJ NEWSLETTER

Oil prices continue to show surprising strength. Crude prices teased $18/bbl last week with light, sweet crude for June delivery climbing as high as $17.90/bbl on Nymex May 11 before closing at $17.85/bbl. The highest prices of the year come at what is typically a time of lower prices. Most analysts peg increased prices to civil unrest in Nigeria and Yemen as well as more concrete signs of economic recovery (see editorial, p. 13).

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