Middle East Economic Survey


No 44


Crude Prices Gain On Better US Data, European Move To Address Debt Crisis

Crude prices gained last week, with WTI settling at $93.96/B on 27 October and Brent closing at $112.08/B after European leaders took measures to come to grips with the eurozone sovereign debt crisis. They convinced Greek bond holders to accept a 50% loss on their investments and set up the European Financial Stability Fund with a pool of 1 trillion to assist...