Middle East Economic Survey


No 45


WTI Price Builds On Weakened Dollar, But Fundamentals Weak Too

The price of WTI settled at $86.49/B on 4 November, its fourth straight daily gain and its highest mark since April. Crude prices rose throughout the week, first on the assumption that Saudi Arabia had endorsed a new price band of up to $90/B and later as a result of new action by the US Federal Reserve to buy back debt and inject more money into the US economy. The move...