Middle East Economic Survey

VOL. LIV

No 11

14-Mar-2011

WTI Remains Above $100/B As Libyan Civil War Keeps Crude Prices At Premium

The price of WTI crude settled at $102.70/B on 10 February, down from earlier highs in a week punctuated by increasing violence in Libya that has resulted in damage to oil infrastructure at Ras Lanuf and gains by Qadhafi loyalists against those fighting to remove him from power. The market responded on 10 March to a cut in Spains credit rating, bringing further...