Middle East Economic Survey


No 43


Crude Oil Price Tops $80/B With Help Of Weak Dollar And Equities

The price of WTI closed at $81.19/B on 22 October, having the previous day topped $80/B for the first time this year. Until the 22 October close, WTI had gained steadily since early in the month, encouraged by a tumbling dollar and upbeat activity on Wall Street that casts an optimistic light on economic recovery. Traders now expect a correction in oil prices on the assumption...