Middle East Economic Survey
VOL. LII
No 39
28-Sep-2009
Oil Market Continues Rangebound As Traders Gauge Economy And Inventories
WTI crude oil continued to trade in the $65-75/B range last week, with evidence of global economic recovery providing market support while bearish pressure came from high levels of crude oil and products inventories. WTI crude returned above $70/B on 22 September, as the dollar fell to a one-year low against the euro. Reuters that day quoted Mark Waggoner, President of...
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