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
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    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
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    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
  • 2015 Predictions: World War 3 Inevitable? Cold War 2 May Focus On Arctic Oil, Not A Russian Nuclear War
    The U.S. also stands to lose something if the Russian ruble tumbles and affects world markets. Although Russia is currently suffering, 2015 predictions ... shale oil. If World War 3 were to occur, the U.S. oil reserves are said to be at record high levels.
    12/16/2014 - 6:55 am | View Link
  • As Ruble Tumbles, Russian Minister Says Budget Needs Rethink
    Novak said the average price of oil would still amount to $98 or $99 per barrel this year due to high prices in the first half of 2014 ... Russian news agency Interfax quoted economists at Russia's Sberbank as predicting if the U.S. dollar reached 50 ...
    11/28/2014 - 6:47 am | View Link
  • Could low oil prices alter promised tax cuts?
    OTTAWA - The federal government will have to weigh the potential risks of sliding oil prices before it starts doling out large tax cuts in advance of next year's election, economists warn. Finance ... when energy prices are high. Bartlett said the Canadian ...
    10/15/2014 - 9:00 pm | View Link
  • SA to pay record petrol price
    Johannesburg - At midnight drivers will have to pay a record price for their petrol – R13.96 a litre – as the rand tumbles and economists warn of tough times ahead ... “One cent was for the oil price; the other 38c, basically put, was the actual ...
    02/3/2014 - 9:00 am | View Link
  • Oil drops below $89, but notches weekly win
    LOS ANGELES (MarketWatch) — Crude-oil prices fell Friday ... are set to go into effect in January if Washington doesn’t reach a budget deal, and economists warn that event could send the U.S. economy back into recession. The Congressional Budget ...
    12/21/2012 - 8:18 am | View Link
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  • Oil price drop hits profits at Exxon and Shell | Oil price ...
    Profitability has been curtailed by the low oil price, but both energy giants beat analysts' expectations
    05/2/2015 - 7:52 pm | View Website
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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
    05/1/2015 - 2:52 pm | View Website
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    04/29/2015 - 1:40 am | View Website
  • To access premium content, become a MacroBusiness member ...
    Why become a member? Australia’s economy is not a market so much as it is a spaghetti bowl of vested interests, tax distortions and imbalances.
    04/29/2015 - 12:43 am | View Website
  • Oil Prices Tumble as Supplies Hit New Record
    Oil prices tumbled on Wednesday to their biggest loss in two months after data showed the largest weekly increase in domestic crude supplies in 14 years.
    04/8/2015 - 4:57 am | View Website
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