Why $5 Gasoline Won’t Cause A Recession ...Middle East

OILPRICE - Economy
Why $5 Gasoline Won’t Cause A Recession
source : OILPRICE ( Middle East ) () 33
After three straight days of gains, crude prices fell on Wednesday and have continued to slide on Thursday's intraday session after a report showing an uncharacteristic slowdown in gasoline demand outweighed a bullish crude inventory report. According to the report by the U.S. Energy Information Administration, the four-week moving average of gasoline supplied--considered the best gauge for demand--fell below 9 million barrels a day, which works out to ~600,000 barrels less than typical seasonal levels. Middle distillate production averaged 5.1…

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