Middle East Economic Survey


No 10


WTI Tops $80/B Despite US Crude Stockbuild

Crude oil prices were buoyed last week by improving US economic data and a weaker dollar, so that WTI held above $80/B despite US weekly petroleum data showing an unexpectedly large rise in crude oil stocks. In the 3 March Oil Comment, Newedge analyst Antoine Halff observed: Weekly US oil data for the week ending February 26 show the continuation of a steady rebound in US product deliveries since...