Middle East Economic Survey
WTI Moves Back Above $70/B Despite Earlier Signs Of Price Correction
WTI crude returned above $70/B on 25 June after settlement in the high $60s/B range on the previous four days suggested that a downward correction in the price was underway. The rise was attributed to improved sentiment on Wall Street and reported problems at ExxonMobils Baytown, Texas, refinery, prompting demand for gasoline. The bombing of a pipeline in Nigeria by...