Middle East Economic Survey


No 6


WTI Price Stays Rangebound Amid Weak Demand And Sluggish Economy

The price of WTI closed at $73.14/B on 4 February, down nearly 5% from the previous day after the steepest one-day decline since July. Weak demand, a lackluster economy and a stronger dollar resulting from financial problems in the euro zone contributed to lower crude prices. Data released by the US Energy Information Agency (EIA) showed that crude stocks rose, while product...