Middle East Economic Survey
WTI Moves Above $70/B On Back Of Economic Speculation
The price of WTI crude moved back into the lower $70s/B range during last week, encouraged by movements on the equity markets and fluctuations in the US dollar. WTI closed at $71.94/B on 6 August despite data released a day earlier by the US Energy Information Agency (IEA) showing a 1.7mn barrel stockbuild from the previous week. Experts see speculation as being behind the rise in...