Middle East Economic Survey


No 29


WTI Moves Above $60/B In Tune With US Stocks

The price of WTI crude settled at $62.02/B on 16 July, reinforcing the previous days return above the $60/B level and reflecting gains in equities on the US stock exchange. WTI prices dropped to $59.89/B on 10 July and fell to $59.52/B on 14 July, suggesting that a correction was under way in the face of slack demand. The price of WTI has declined by more than $10/B over the last month, having...