Middle East Economic Survey


No 39


Oil Prices Fall With Growing Concern For Global Economy

The price of WTI crude settled at $80.51/B on 22 September, down by $5.41/B or 6.3% from the previous day, as global markets reacted to the gathering gloom over the future of world economic growth. Europes struggle to deal with its debt crises and the inability of the US market to create jobs prompted investors to retreat from the global equities market. Sluggish economic activity...