Middle East Economic Survey
WTI Crude Price Tops $72/B, Market Moves Back Into Speculation Zone
WTI crude closed at $72.68/B on 11 June, its highest price since October of last year, after starting the week at $68.09/B. The rise above $72/B followed a revision in demand growth data issued by the International Energy Agency (IEA) earlier in the day. The Paris-based agency said in its latest Oil Market Report (OMR) that it had adjusted its forecast for global oil...