Oil deepens losses below $40, eyes on economy
Oil prices extended their sharp fall to drop further below $40 a barrel on Tuesday, weakened anew by growing signs of deteriorating world oil demand. For full story, click here
Articles Tagged "economy"
Volatile oil prices threat to economy: Brown
Britain’s Prime Minister Gordon Brown has said that volatile oil prices remain a threat to the global economy. For full story, click here
Falling crude to dent oil marketers’ margins
Falling crude oil prices have proven to be a double-edged sword for oil marketing companies For full story, click here.
Oil drops 8 percent to below $50 as OPEC defers cuts
Surging demand from emerging economies sent oil and other commodities on a six-year rally. For full story, click here
Oil slides below $49, nearing three and a half year low
Pressure is build due to OPEC’s decision to leave output unchanged and growing gloom about the global economy. for full story, click here
Oil prices fall to three-year low
Oil prices Thursday hit levels not seen in more than three years and retail gasoline prices are below $2 across nearly half of the country on dour economic reports suggesting a painful economic pullback. For full story, click here
Crude ends lower as Wall St dips on economy
U.S. crude futures ended at the lowest level in nearly 22 months on Tuesday, moving in lock-step with Wall Street, where U.S. stocks lost ground on deepening economic worries. For full story, click here
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 [...]
Crude Oil Rises above $70
The prices rose above $70 a barrel for the f1st time in a week on speculation that the interest rate cuts in the U.S. and China may spur a global economic recovery and increase demand. Toby Hassall, analyst with Commodity Warrants Australia, said: The Fed delivered their expected rate cut and that’s another boost for the [...]
Oil declines further on economy fears
Oil prices came below $80 a barrel in Asia amid fears over the future of the global economy, despite an international effort to bailout banks. For full story, click here
