Middle East Economic Survey


No 38


WTI Returns To $72/B In Step With Equities Market

WTI crude closed at $72.47/B on 17 September, behaving very much like a commodity as it followed the course of the equities market and fluctuated in time with the value of the dollar. Fundamentals did look like a factor on 16 September, when the weekly data released by the US Energy Information Agency (EIA) showed that stocks in the US had declined by 4.7mn barrels over the week, although...