Middle East Economic Survey


No 4


Crude Prices Ease On US Stockbuild

Crude prices held steady early last week on expectations that cold weather in the US would keep heating fuel demand buoyant. However, they eased on publication of the latest weekly US inventory data on 19 January, which showed a larger than expected rise in crude oil stocks. The crude stockbuild was attributed to reduced refinery runs because of maintenance shutdowns, coupled with the arrival of...