Middle East Economic Survey


No 23


WTI Price Moves Above $68/B With Goldman Forecast Of $85/B By Year End

WTI crude settled at $68.81/B on 4 June and flirted with $70/B during the course of intraday trading, despite the fact that the fundamentals just arent there to support the price. Little regard was paid to data released by the US Energy Information Administration (EIA) on 3 June that showed that crude oil inventories had increased by 2.9mn barrels during the previous week....