Middle East Economic Survey

VOL. XLVIII

No 45

7-November-2005

OIL PRICES

WTI Below $60/B Temporarily In Weather-Driven Trading

Crude prices eased early last week, with WTI falling below $60/B for the first time in three months, as unusually warm weather curbed heating oil demand and traders were hopeful that the worst of this years turbulent US Gulf hurricane season had passed. The US National Weather Service on 1 November predicted that last weeks domestic heating oil demand would be about 30%...