Middle East Economic Survey


No 15


WTI Remains In Mid-$80s/B Range As US Reports Stock Increase

WTI crude settled at $85.39/B on 8 April, down by $1.45 from its highest price this year of $86.84/B on 6 April. The latest weekly data from the Energy Information Administration (EIA) showed a rise of 2mn barrels in US crude stocks, putting fundamentals back into the equation to some degree. A stronger US dollar against the euro and economic data showing an increase in US...