Oil Market on Tenterhooks Ahead of IAEA, OPEC Meetings

Never free of the cloud of political risk, oil prices are facing a particularly difficult week with uncertainty over two key meetings likely to keep the market on tenterhooks.

With prices once again edging towards $65 a barrel, the outcome of a meeting Monday of the International Atomic Energy Agency and a separate gathering Wednesday of oil ministers from the Organization of Petroleum Exporting Countries could well determine the short term direction for the market. The April contract on the New York Mercantile Exchange closed up 31 cents Friday at $63.67 a barrel.
Schlumberger