Middle East Economic Survey

VOL. LIV

No 3

17-Jan-2011

OIL PRICES

WTI Returns To Low $90s/B Range

The price of WTI crude oil returned to the lower $90s/B range last week, settling at $91.40/B on 13 January. Prices rose during the week as reduced crude inventories were reported by the US Energy Information Administration (EIA) amid harsh winter conditions in the northern hemisphere, while demand growth is projected to rise during 2011-12. While economic data continues to impact WTI, the market...