Middle East Economic Survey

VOL. LIII

No 7

15-Feb-2010

WTI Recovers To Mid $70-80/B Range After EU Pledge To Greece, Forecast Higher Demand

The price of WTI recovered during the week to settle above $75/B on 11 February. Heavy snowfall in the US led to the closure of Federal government offices and the delay of the Weekly Petroleum Status Report, which is usually issued each Wednesday. The oil market reacted to positive US economic data, but more so to news that the EU would provide assistance to...