Middle East Economic Survey
WTI Moves Into $60/B Range As Summer Demand Fails To Materialize
A six-day decline in the price of WTI ended on 9 July when Nymex crude closed at $60.41/B, up $0.27/B from the previous days settlement of $60.14/B. WTI crude was last above $70/B on 29 June when it closed at $71.49. The steady decline over the last week prompts the question: Is this the correction theyve been saying would come? While recent US economic data has not...