Middle East Economic Survey


No 18


Oil Prices Hold Steady Despite US Stock Build

The price of WTI crude held steady above $112/B on 28 April despite an increase in US stocks and news from the US Federal Reserve that the US economy did not perform as well as hoped during the first quarter due partly to the fact that rising gasoline prices have cut into consumer spending, a suggestion that rising crude prices are beginning to impact the global economic recovery. During the...