EIA: Oil Prices Driven by ‘Very Tight’ Mkt, Terror Fear

Oil prices are being driven higher by “very tight” market fundamentals, and there are no “magic” solutions to push them lower, the government’s top oil market analyst said Thursday.

The comments by Guy Caruso, chief of the Energy Information Administration, the statistics arm of the U.S. Department of Energy, suggest that the government views the high prices of the past year as a long-term problem without an immediate solution.
Schlumberger