Crude oil prices rose following OPEC’s failure to agree on a Saudi-proposed production increase at the organization’s meeting in Vienna on 8 June. The price of WTI crude started the week at $99.01/B on 6 June and settled at $101.93/B on 9 June, while Brent rose by more than $5/B during the same period. Despite OPEC’s insistence that the market remains well supplied, rising crude prices are being increasingly seen as threatening to the global economic recovery. Following the OPEC meeting, the International Energy Agency (IEA) issued a statement saying it had “noted with disappointment that OPEC members today were unable to agree on the need to make more oil