Middle East Economic Survey
VOL. LIII
No 20
17-May-2010
WTI Price Slips Below $75/B Amid Cushing Stock Build And Eurozone Concerns
The price of WTI slipped to $74.40/B on 13 May due to rising inventories, particularly at the WTI delivery point at Cushing, Oklahoma. The US Energy Information Administration (EIA) reported that Cushing crude stocks had reached a new record high of 39mn barrels. Furthermore, concerns over the future of economic recovery in the Eurozone persist, resulting in a...
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