Middle East Economic Survey


No 13


WTI Holds Above $50/B, Buoyed By US Economy Optimism

WTI settled at $54.34/B on 26 March, with the Nymex crude price holding well above the $50/B mark despite bearish crude fundamentals and a weekly stock report from the US Energy Information Administration (EIA) that put US commercial crude oil inventories up by 3.3mn barrels over the previous week. Prices were largely supported by improved sentiment regarding the future of the US economy...