Middle East Economic Survey

VOL. LIV

No 17

25-Apr-2011

WTI Price Moves Back Above $110/B As US Inventories Slide, Market Seen Out Of Balance

The price of WTI crude moved back above the $110/B mark on 20 April to settle at $111.45/B following the release of data by the US Energy Information Administration (EIA) showing that crude oil and product inventories declined during the previous week. All benchmark crudes made gains during the day as violence and social turmoil continue throughout the...