Middle East Economic Survey

VOL. XLIX

No 3

16-January-2006

OIL PRICES

Crude Prices Boosted By Iran Nuclear Standoff

Crude oil prices received support last week from Irans resumption of R&D on uranium enrichment. This triggered an EU push to threaten Iran with UN sanctions and lifted the nuclear standoff to the top of the list of geopolitical concerns expected to drive oil prices this year. Investment funds have been moving into the oil market since the New Year, attracted by strong demand...