Middle East Economic Survey


No 36


Crude Prices Slip Into $60-70/B Range

The price of WTI crude moved below $70/B during the week to close at $67.96/B on 3 September amid uninspiring economic data. Crude prices have been moving in accordance with equity prices and the dollar in recent weeks, but the steady decline in prices over recent days has prompted questions about demand. Data released by the US Energy Information Administration (EIA) showed a 0.4mn barrel decrease in crude...