Middle East Economic Survey

VOL. XLVIII

No 46

14-November-2005

OIL PRICES

Crude Prices Slide On Warm Weather And US Stockbuild

Crude oil prices slid again last week, with WTI becoming established below $60/B as warm weather and large increases in weekly US crude and products inventories published on 9 November outweighed concerns over production and refining constraints in the aftermath of the Gulf of Mexico hurricane season. The move below the psychologically critical $60/B level for WTI marks the...