Middle East Economic Survey


No 49


Oil Prices Inch Higher As ECB Reassures Over Eurozone Fears

The price of WTI increased steadily through the week and moved above the $100/B mark in late November on news that the European Central Bank would step in to provide assistance for the troubled Eurozone. European and US economic worries remain the main influence on crude prices although fundamentals are beginning to weigh in as seasonal demand patterns take hold. Improved retail...