Articles Tagged "crisis"

Oil Price Peaks And Slides

Oil prices vaulted 9 per cent in NY Thursday, in tandem with a powerful stocks rally, as investors cheered G20 agreements to combat the global downturn and an easing of US accounting rules. On Friday, oil prices settled above $52 a barrel, slightly lower on the day after a report that US unemployment in March soared to a 25-year high. But optimism that the economy will soon turn around curtailed losses.

Spike likely to be on its way for oil prices

The fall of oil prices, 1 of the few reasons for economic cheer, may be setting the stage for another spike. Francisco Blanch of Merrill Lynch, said: The rising cost of capital is likely to outweigh all these benefits. Tar-sands schemes, like most oil projects, are very capital-intensive and so very sensitive to changes in financing costs. For [...]