Middle East Economic Survey


No 18


WTI Price Entrenched In Mid-$80s/B Range

The price of WTI settled at $85.17/B on 29 April, recovering ground lost earlier in the week as the euro fell against the dollar and concern grew over the financial crisis in Greece. Markets improved as Athens prepared to bite the bullet and the euro made gains, giving a boost to crude prices despite data from the US Energy Information Administration (EIA) showing that crude stocks and commercial...