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Zimbabwe - Monthly Economic Review - March 2012
Metal prices were volatile during the fi rst half of February 2012, with copper and nickel fi rming during the fi rst week of the month before dropping sharply, towards the end of the second week, to reach their monthly lowest of US$8252.50/tonne and US$19,672.50/tonne, respectively. Crude oil prices sustained an upward momentum during the month of February 2012 to close the month at US$122.76/barrel from US$112.25/ barrel, thereby gaining by 9 percent. The low oil stockpiles in the U.S. and Europe along with the potential threat of souring diplomatic relations between Iran and the West may have contributed to the sharp gains in oil. Oil Prices in Zimbabwe remained stable during the second month of 2012, with prices remaining unchanged since the last quarter of 2011.