Monday, July 19, 2010

Further indications of global economic slowdown

The cost of shipping gasoline to the U.S. from Europe may fall from the highest level in 21 months as growing inventories indicate a diminishing need for imports.

The rates charged to transport the fuel will slide 14 percent from July to December, only the second decline for the period in the past seven years, freight-rate derivatives showed. Stockpiles of the fuel rose to 221 million barrels in the seven days ended July 9, the most for mid-July since 1992, according to the Energy Department in Washington. Imports tumbled 27 percent in the week, the first decrease in five weeks and the biggest drop since Feb. 12, department data showed.
Read full article here

1 comment:

Robert Searle said...

We meet again so to speak! I hope you are managing to put some life back into Social Credit!!