Middle East Economic Survey


No 17


Economic Optimism Keeps WTI Above $80/B Mark

Improving optimism in the US economy allowed WTI crude to settle at $83.70/B on 22 April as US equities gained on the release of quarterly reports that showed improved earnings. Crude prices had slumped when it became clear that the financial crisis in Greece was more serious than previously thought. An increase in US crude oil inventories, reported by the US Energy Information Administration...