Middle East Economic Survey


No 29


Crude Oil Prices Rangebound, Centering Above $75/B For WTI

Crude oil prices continued rangebound last week, with WTI centering above the $75/B mark. The oil market continues to respond to broader investment concerns, with US economic indicators and the performance of the dollar being the main drivers. Last week the balance of economic data was negative, outweighing a larger than expected draw on US crude inventories, which only briefly...