Middle East Economic Survey

VOL. LII

No 17

27-Apr-2009

OIL PRICES

Crude Oil Prices Hover Around $50/B, Despite Continuing US Stockbuild

Prices for the main benchmark crude oils hovered around $50/B last week, despite further data showing that US crude and products inventories continue to build. Support for crude prices came mainly from investors, as stock markets showed modest increases and a weakening of the dollar encouraged the purchase of commodities. This apparent oil market steadiness...