Middle East Economic Survey


No 41


Oil Prices Rally As Europe Moves To Stem Economic Slide

The price of WTI settled at $82.59/B on 6 October, gaining $2.91/B over the previous day and up from a mid-week low of $75.67/B. Brent crude dipped below $100/B for the first time in months on 4 October, settling at $99.79/B. It rallied to settle at $105.73/B on 6 October as the European Central Bank gave EU banks easier access to cash in a bid to halt the Eurozones economic slide....