Oil Prices Spiral Downwards as Economic Gloom Intensifies
Crude oil prices continued their downward spiral during the week as new data confirmed that U.S. economic growth is slowing.
The benchmark West Texas Intermediate contract settled 2.6% lower for the week on Friday, at $73.46 a barrel compared to the $75.39 close a week ago, itself a decline of 7% from the previous week.
News Thursday of an increase in jobless claims and a slowdown in manufacturing activity in the key mid-Atlantic region knocked both stock prices and commodity prices.
Link:
http://www.globalresearch.ca/index.php?context=va&aid=20747
No comments:
Post a Comment