Middle East Economic Survey


No 14


WTI Crude Tops $106/B With Continued Fighting In Libya

The price of WTI crude settled at $106.72/B on 31 March, its highest point since September 2008. War in Libya and widespread unrest throughout the Middle East continues to push prices upward. The US Energy Information Administration (EIA) on 30 March reported a further rise in US inventories to 355.7mn barrels, but this failed to dent rising US market concern. Meanwhile, Brent crude...