Middle East Economic Survey

VOL. LIV

No 1-2

3/10-Jan-2011

OIL PRICES

WTI Eases From Lower $90s/B Range, But IEAs Birol Warns Price In Danger Zone

The price of WTI settled at $88.38/B on 6 January after spending most of the holiday season above $90/B. The market had been buoyant since mid-December, but a stronger dollar and weaker than expected US economic data pulled WTI below the $90/B mark on 6 January amid faltering market optimism. Weekly data from the US Energy Information...