Middle East Economic Survey


No 9


WTI Tests $80/B But Economic Concerns Outweigh Bullish Gasoline Data

Crude oil markets were volatile last week as WTI traders tested the $80/B mark on growing optimism about oil demand, to which was added an increase in US gasoline stocks in weekly petroleum data published on 24 February. But caution over the broader economic picture tempered oil market skittishness. Commerzbank analyst Carsten Fritsch told Reuters on 25...