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AF Alhajji

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Everything depends on political developments.

Damage similar to that caused by Ivan will push oil prices above $75. It took more than six months to restore production after Hurricane Ivan. Crude oil prices increased by more than $10 within a month.

The effect of the release on gasoline prices is limited. Refineries are producing at full capacity and more crude will not lead to more gasoline.

World oil markets are fundamentally tight.

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