Middle East Economic Survey


No 13


WTI Remains Above $80/B, Buoyed By Decline Of Euro And US Stock Build

WTI settled at $80.53/B on 25 March as the euro lost ground against the dollar because of Europes uncertain plans on how to deal with EU member Greeces sovereign debt. Data released by the US Energy Information Administration (EIA) on 24 March, showing that US crude stocks had increased by 7.3mn barrels during the previous week, let WTI slip to $80.61/B from a close of...