Middle East Economic Survey


No 12


Crude Oil Prices Continue To Be Driven By Financial Markets

Crude oil markets continued to be driven by financial markets rather than fundamentals last week, with WTI staying mainly above the $80/B mark. Financial market movers were the US dollar and investors concerns over Greeces debt crisis, while oil analysts anticipated a rise in OPEC exports as the global economic recovery continued. David Moore, Commodity Strategist at the...