Middle East Economic Survey


No 14


Nymex Crude Price Appears Established Above $80/B

The price of WTI closed at $83.76/B on 31 March, above the upper end of the $75-80/B range which it has been testing for the last six weeks. Prices have been bolstered by positive US economic news plus a rise in the value of the euro as Europe comes to grips with the Greek financial crisis. Two bombs on the Moscow subway on 29 March also pushed crude prices higher. Barclays Capital noted...