Middle East Economic Survey

VOL. XLVIII

No 41

10-October-2005

Crude Prices Tumble On Reduced US Gasoline Demand And Record Imports

Crude oil prices tumbled last week, even though US refinery throughput was reduced to less than 70% because of shut-ins and damage sustained during Hurricanes Katrina and Rita. While refinery capacity utilization in the week ending 30 September was the lowest level since the EIA began publishing weekly data in 1990, the impact was outweighed by the fact that US...