Middle East Economic Survey


No 28


WTI Over $40/B Once More

Crude oil prices rose last week, with WTI over $40/B once more, on supply-side concerns, particularly fears of disruptions from several countries at the same time, as well as a terrorism warning in the US. The initial rise followed an Iraqi pipeline blast and a Nigerian oil workers strike over the weekend. There was also price support from growing concerns that Moscows tax action against producer Yukos could...