IS ANOTHER oil shock in the making? All indications point to that considering the rise in world crude prices, not just in the spot market, but also in the futures segment. In the past, the rise in the spot price of crude as, for instance, ahead of both the Gulf wars, was not accompanied by a sympathetic jump in the forward price simply because the market expected the spike to be short-lived. But, this time, the forward price has been going up sharply. Crude oil has jumped 13 per cent in three weeks. Oil for July delivery reached a record...
