Middle East Economic Survey


No 24


WTI Crude Price Moves Above $75/B After IEA Forecast Boost, China Export Data

The price of WTI crude settled at $75.48/B on 10 June, its highest level in nearly a month, following the release of the latest monthly report by the International Energy Agency (IEA), which forecast an increase of 60,000 b/d in demand growth for 2010, and an announcement by China that its exports had grown by 50% during May. The US dollar fell against the euro as...