Middle East Economic Survey


No 43


WTI Holding Above $80/B, Driven By Dollar Movement

The price of WTI crude settled at $80.56/B on 21 October, having spent most of the month above the $80/B mark. Oil prices have been driven by fluctuations in the dollar, prompted by speculation on possible actions by the US Federal Reserve and whether it will introduce more quantitative easing. Only on 19 October did WTI settle below $80/B, at $79.49/B. Economic data continues to hold...