Middle East Economic Survey


No 22


Crude Oil Prices Rally As Eurozone Confidence Receives A Boost

Crude oil prices tested recent market lows last week as concerns continued about the impact of Eurozone debt on the wider economy. However, statements from the Chinese and Kuwaiti governments that they were not reviewing their Eurozone investments sparked an equities market rally, which in turn triggered renewed interest in crude oil futures. The US market was also boosted by...