Middle East Economic Survey

VOL. LIV

No 8

21-Feb-2011

Middle East Tension Gives Upward Momentum To Crude Prices

The price of WTI settled at $86.36/B on 17 February, buoyed by spreading popular demonstrations in several Middle East countries despite ample supplies in the US and elsewhere. A report that Iran intends to send naval ships into the Mediterranean Sea through the Suez Canal has added to tension in the region. Meanwhile, Brent remains above $100/B, settling at $102.59/B on 17 February....