Optimism or Naivete?

August 23, 2005

THE world stock exchange seems to be on the move again at the end of last week. The slow decline in the crude oil price by about US$3 per barrelafter jumping to US$68 per barrel at the beginning of the weekseems to give a bit of room to breathe.

There are some who believe that this will continue. We do not fully believe yet that the world oil market is totally convinced that the price will remain above US$60 and continue to rise, said Paul Horsne

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