Middle East Economic Survey


No 25


WTI Price Moves Into High $70/B Range

The price of WTI bubbled up into the high $70/B range during the week, reaching $77.67/B on 16 June amid improvements with the euro and a more optimistic attitude about the state of Europes financial future. But on 17 June WTI settled at $76.79/B as poor US economic data concerning more jobless claims and a decline in factory growth made an impact on the dollar. Oil data from the US Energy Information...