Middle East Economic Survey


No 3


WTI Slips Below $80/B As Inventories Rise And Economic Outlook Slumps

The price of WTI slipped below $80/B on 13 January, after almost two weeks of support from a cold snap in the northern hemisphere. Milder weather in the US as well as economic data showing a rise in jobless claims and disappointing retail sales put bearish pressure on markets, as did the latest weekly US petroleum inventory data published by the US Energy Information...