Middle East Economic Survey


No 28


WTI Price Returns To $75/B With Upbeat Economic Data

The price of WTI crude settled at $75.44/B on 8 July, following the release of data by the US Energy Information Administration (EIA) showing that stocks declined by 5mn barrels in a report that analysts described at bullish. An improving economic outlook on the global economic recovery boosted equities as the euros rose against the dollar. Fears of a looming double-dip recession in the US...