Middle East Economic Survey

VOL. LII

No 15

13-Apr-2009

OIL PRICES

Crude Oil Prices Remain Around $50/B But Lack Fundamentals Support

WTI settled above $52/B on 9 April, ahead of the holiday weekend, as some optimism returned to the equities market. However, despite a desire amongst investors for the oil market to pick up, supporting fundamentals have yet to arrive. In its latest monthly Oil Market Report, published on 10 April, the International Energy Agency (IEA) said prices recently have tracked...