Middle East Economic Survey

VOL. XLIX

No 7

13-February-2006

OIL PRICES

Crude Prices Fall On Gasoline Stockbuild But Iran Nuclear Standoff Keeps Market Tense

Crude oil prices were supported early last week by the IAEAs decision to report Iran to the UN Security Council, bringing an implicit threat of sanctions and the possibility of halted oil exports in response. However, with no action likely ahead of the IAEAs 6 March meeting, and the Iran nuclear standoff falling from the headlines, prices...