Middle East Economic Survey


No 27


WTI Price Slips To Low $70s/B Range Amid Fuel Stock Build And Poor Economic Data

The price of WTI crude settled at $72.95/B on 1 July, slipping throughout the week from more than $78/B on 28 June. Inventory data released by the US Energy Information Administration (EIA) showed a decline in crude stocks by 2mn barrels, but a rise in gasoline and distillate stocks by 537,000 barrels and 2.5mn barrels respectively, resulting in a 30 June...