Middle East Economic Survey


No 26


WTI Crude Price Holds Steady Above $75/B

WTI crude oil settled at $76.51/B on 24 June, down by more than a $1/B from the start of the week, but safely within the ideal price zone that suppliers prefer. Crude supplies remain ample with the US Energy Information Administration (EIA) reporting mid-week a stock build of 2mn barrels in US inventories. The euro strengthened slightly against the dollar, but investors remain concerned about the...