Middle East Economic Survey

VOL. LII

No 25

22-Jun-2009

OIL PRICES

WTI Remains Above $70/B, But Fundamentals Offer Little Support

WTI crude settled at $71.37/B on 18 June, the result of economic news that was not as bad as had been expected. The number of people in the US continuing to claim unemployment benefits fell and data on manufacturing in the US Mid-Atlantic showed a decline, but not as much as forecast. US stock market indexes rose during the day and only slight gains of the dollar against...