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   
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    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 tourObama 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'tUS 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
  • Falling oil prices may impact aircraft sales
    But what is good news for the airlines raises questions for the world’s largest jet makers, Boeing and Airbus, which have been riding a wave of demand for the latest fuel-efficient jets, driven in large part by the stubbornly high price of oil.
    02/8/2015 - 7:00 pm | View Link
  • BP Russian dividend at risk as rouble crisis rages: Stake in Rosneft tumbles in value as falling price of oil takes its toll
    Russian oil giant Rosneft must pay $7.6billion (£4.9billion) it owes to a raft of international banks including Barclays by tomorrow or face breaching its loan agreements and heaping pressure on its British partner, BP. Britain’s biggest oil firm owns ...
    12/20/2014 - 9:11 am | View Link
  • Mideast markets may stay volatile as floor for oil still unclear
    Although economists and government officials say this is unlikely, uncertainty may persist until investors see the actual state budgets for the next fiscal year. After Tuesday's sharp drops, some investors may be tempted to buy back stocks, but any rebound ...
    12/16/2014 - 6:03 pm | View Link
  • TSX tumbles 178 points as energy stocks sell off on oil price collapse
    TORONTO -- The Toronto stock market extended its losses Friday as energy stocks continued to sell off in the wake of a collapse in oil prices while miners and copper prices fell heavily on Chinese economic concerns. The S&P/TSX ... due to high debt levels.
    11/28/2014 - 6:59 am | View Link
  • Oil tanks as Opec leaves production levels unchanged – business live
    Summary: Oil hammered after Opec decision ... Otherwise, they warn, extractors could abandon the North Sea for other areas. Citi, the Wall Street bank, has come up with four theories to explain Saudi Arabia’s reluctance to cut oil production.
    11/26/2014 - 6:56 pm | View Link
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    Find the latest business news on Wall Street, jobs and the economy, the housing market, personal finance and money investments and much more on ABC News
    11/29/2015 - 4:14 pm | View Website
  • Stocks, Oil Plunge and It’s Not Even September Yet ...
    Stocks, Oil Plunge and It’s Not Even September Yet: “Feeling of Fear in the Marketplace”
    11/29/2015 - 1:16 pm | View Website
  • Peak Cheap Energy and Oil Price Slump
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    11/29/2015 - 6:13 am | View Website
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    11/29/2015 - 3:43 am | View Website
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    11/28/2015 - 11:25 pm | View Website
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