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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (69551)	9/26/2007 5:37:08 PM
From: RealMuLan	Respond to of 116555

Economic woes, high prices drag down U.S. oil demand Wed Sep 26, 2007 7:57pm BST ... Growth in the giant market over the past four years has averaged more than 1 percent despite a tripling of oil prices over the period as demand from China and India surged. But total fuel demand dipped 0.3 percent over the past month against a year ago while distillate usage is off 1.2 percent, according to government data, as U.S. oil prices shot to a record high above $83 a barrel. Analysts said the falls were signs the wider U.S. economic problems may be spreading to transport markets. "We think this is an economy problem," said Bill O'Grady, assistant director of market analysis at A.G. Edwards. "Basically, these numbers are signaling very clearly that we have a drop-off in product consumption that is probably related to a slower economy." ... uk.reuters.com