Middle East Economic Survey


No 30


Crude Oil Market Rangebound, Supported By Equities Markets

Crude oil markets continued rangebound last week, with traders concerns about the global economic outlook outweighed by investors optimism after stronger than expected European economic data and US company results. Oil prices were also boosted on 22 July by reports of a potential storm brewing in the Gulf of Mexico, and by a slide in the value of the dollar. Addison Armstrong,...