Middle East Economic Survey


No 44


Dollar Weakness Keeps WTI In Low $80/B Range

The weak dollar continues to support the price of WTI crude, which settled at $82.18/B on 28 October. WTI has moved in the lower $80/B range throughout the month, slipping below that to $79.49/B only on 19 October. Dull, dull, dull, is how Paul Horsnell, Head of Commodities Research at Barclays Capital, described the market in the Weekly Oil Data Review, released on 28 October. Commenting that...