Middle East Economic Survey


No 16


WTI Sticks To Mid-$80s/B Range

WTI crude settled at $85.51/B on 15 April, down from $85.84/B the previous day when the US Energy Information Administration (EIA) reported an unexpected stockdraw of 2.2mn barrels. The slip to $85.51/B came with the expiration of the WTI May contract and continuing doubts in Europe over Greeces financial troubles that resulted in the euro falling against the dollar.

Writing in the US Petroleum Report on 14...