Middle East Economic Survey

VOL. LIV

No 6

7-Feb-2011

OIL MARKET

Unrest In Egypt Puts WTI Back In $90/B Zone, Pushes Brent Over $100/B

Continuing political unrest in Egypt and concern for the security of the Suez Canal has pushed the price of WTI above $90/B to settle at $90.54/B on 3 February while ICE Brent closed at $101.76/B after having punched through the three-digit mark on 31 January. A stronger dollar put some pressure on oil prices and the US Energy Information Administration (EIA)...