Oil Tumbles As Economists Warn On High Prices

NEW YORK (AP) -- Oil prices tumbled 3 percent Thursday, as economists warned that the recent surge in fuel prices will eventually hurt the fragile economic recovery....

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Topics:  economic recovery   economy   energy   oil   oil prices   
  • US home sales rebound slightly in February
    U.S. home sales picked up slightly in February but remain sluggish due to tight inventories, affordability problems and nasty winter weather. More
  • Dollar rises above 100 yen for 1st time in 4 years
    The dollar has risen above 100 yen for the first time in more than four years as currency traders persist in selling the Japanese currency in reaction to Tokyo's aggressive credit-easing moves. More
  • Obama to open middle-class jobs, opportunity tour
    Aiming to show he's still focused on creating jobs, President Barack Obama is beginning a series of quick trips around the country to resurrect ideas from his State of the Union address that became overshadowed by the intense debates over gun control, immigration and automatic spending cuts. More
  • Retailers report modest gains for April
    Americans spent briskly during the early spring months in the latest sign that they’re encouraged by the economic recovery. Falling gas prices, a rallying stock market and gains in the job market all fueled Americans’ shopping habits even as cold weather tempered their desire to buy spring fashions. More
  • US home building is surging, but job growth isn't
    The resurgent U.S. housing market has sent builders calling again for Richard Vap, who owns a drywall installation company. Vap would love to help - if he could hire enough qualified people. "There is a shortage of manpower," says Vap, owner of South Valley Drywall in Littleton, Colo. More
  • FTSE 100 tumbles after Saudi rules out oil output cuts and pound falls below $1.40 as Brexit fears bite
    Tom Gadsby, of Liberum, said: “We do not believe that the luxury goods model lends itself well to price cutting and promotion, rather brand value is driven by exclusivity engendered by high pricing ... with economists warning that a British ...
    02/24/2016 - 5:14 am | View Link
  • Oil market takes a walk on the wild side (again)
    Oil tumbles most in seven months following yesterday’s biggest ... prospect of OPEC talks — but analysts warn of ‘false start’ The extreme movement of commodity prices was first observed in the early 20th century by Wesley Mitchell (“The Making ...
    09/1/2015 - 1:00 pm | View Link
  • Australian dollar weaker, oil, gold drop, US rates rise speculation heightens
    The US Federal Reserve will probably raise interest rates twice this year, with the first increase in almost a decade coming as early as next month, according to a Reuters poll of economists published on Thursday. The survey gave a median 55 per cent ...
    08/11/2015 - 1:00 pm | View Link
  • Petrol prices back on the up! Forecourts quick to react as oil recovers from $45 low to $58
    Rising oil prices have resulted in the cost of petrol nudging up in the last week after a winter of drastic falls which saw a litre of unleaded teeter near the £1 mark. A barrel of Brent crude slipped to a low of nearly $45 in mid-January from $110 in ...
    02/9/2015 - 7:06 pm | View Link
  • Russia's rouble suffers biggest one-day fall since 1998 as oil price tumbles to five-year low
    Shares in Afren dropped 12 per cent, Enquest was down 9 per cent, and Tullow Oil sank 6 per cent. But economists said the falling oil price is good news for the global economy. ‘The prospects for the world economy are much brighter with global oil prices ...
    12/1/2014 - 2:31 pm | View Link
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