Middle East Economic Survey


No 51-52


WTI Returns Above $70/B After Touching Two-Month Low

The price of WTI moved back above $70/B last week, having settled at $69.51/B on 14 December, its lowest closing price since early October. The rebound in the price of WTI was attributed to data released by the US Energy Information Administration (EIA) on 16 December that showed US crude stocks falling by 3.7mn barrels during the previous week and that total commercial petroleum...