Middle East Economic Survey

VOL. XLVIII

No 14

4-April-2005

Crude Price Fall Halted By US Gasoline Tightness

Crude oil prices early last week resumed their descent from all-time highs set in mid-March, as the availability of plentiful crude supplies was confirmed by weekly US inventories data published on 30 March. The data showed a larger than expected rise in crude stocks, and was the seventh weekly crude stockbuild in a row. This appeared to have convinced investors that crude supplies are not...