Middle East Economic Survey


No 9


WTI Moves Back Above $45/B As EIA Reports Draw On Gasoline Stocks

The price of WTI returned above $45/B on 26 February, responding to data released by the US Energy Information Administration (EIA) on the previous day showing that gasoline stocks had declined by 3.4mn barrels from the previous week. Prices rose throughout the week, buoyed by improved Wall Street sentiments following news that the US Federal Reserve had no immediate plans to...