Middle East Economic Survey
VOL. LII
No 45
9-Nov-2009
WTI Moves Above $80/B Following Bullish US Data, But Then Retreats
The price of WTI moved out of the high $70s/B range to close at $80.40/B on 4 November following the release of weekly data from the US Energy Information Administration (EIA) that showed a decrease in US crude oil inventories of 4mn barrels from the previous week. Writing in Société Générales US Petroleum Report on 4 November, Michael Wittner, Global Head of Oil Research, said...
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