Analysts Debate Effect of High Oil Prices
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WASHINGTON - High oil prices, which have been a factor in virtually all U.S. recessions over the past three decades, are surging again this year...
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The absolute price of oil has reached a new high. The growth     of the economies in China, India and the rest of Asia are increasing the demand     for oil. There are production problems in Venezuela (strikes and sabotage), Norway (strikes), Nigeria (civil war), Iraq (sabotage) and Russia (internal politics). Hurricane Ivan and other hurricanes this year disrupted     production in the Gulf of Mexico and transportation of oil in the Atlantic.     In the next decade Eastern Europe will also require more oil to feed its growing economies. The price of crude oil has led to     prices of above $55 a barrel and lifted heating oil to a record and     natural gas to a 20-month high. Though prices may eventually fall a bit, they are likely to remain higher than we were once     accustomed.    However, all is not gloom and doom.
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Amid soaring crude oil prices, gasoline costs have been dropping. But don't expect that to last, economists say.
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A senior US Federal Reserve official said Thursday the recent spike in oil prices would almost certainly impact on the US economy, although it may not be as significant as the shocks of the 1970s and 1980s.
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Oil prices have fallen in recent weeks from record highs, relieving the anxieties of consumers and economists alike. However, OPEC recently signaled that it&#39;s not ready for the price of black
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ELEANOR HALL: The high price of oil is already threatening global economic growth, but that price could yet be pushed higher by events in Russia.
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As fears of an American recession ripple across the globe, analysts are wondering whether the great oil boom of the last five years is finally coming to an end.
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The price of oil looks set to grab headlines as analysts forecast that its record-breaking run may well continue.
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Members of the Organization of Petroleum Exporting Countries were divided Tuesday on whether output should be increased in a bid to boost global supply that might cause prices to drop.
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WASHINGTON: Top US economic forecasters are growing increasingly worried about the impact of surging oil prices on consumer and business spending in â05, a survey released on Sunday showed.
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TOKYO: Rising oil prices are unlikely to deal a major blow to global economic growth although the trend may seem &quot;uncomfortable,&quot; a researcher with the International Monetary Fund says.
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An African-based investment analyst says further rises in global oil prices are likely, given the growing possibility of civil war in the world&#39;s sixth-largest oil producer, Nigeria.
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WASHINGTON -- High oil prices, a factor in virtually all US recessions over the past three decades, are surging again this year. And the higher crude oil prices climb, the more risk energy costs pose to what, until recently, many expected to be a banner year for the US economy.
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Crude oil surpassed $50 a barrel for the first time and analysts said Tuesday that prices could keep rising because of a sharp rise in global demand, tight supplies and threats to output in petroleum-producing nations such as Iraq and Nigeria.    Homeowners and energy-intensive industries could feel the sting from high oil prices worsen as seasonal demand picks up this winter, and there is already evidence that the supply disruptions caused by Hurricane Ivan are making it more costly to drive...
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Investors will watch for oil news from  Russia and Iraq next week, but skepticism that crude prices can  stay sky-high is growing and a break in the energy market would  fuel a rally in U.S. stock markets.
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As members of OPEC ready for a key meeting on whether to adjust oil prices, some petroleum companies and analysts are wondering if the cartel is becoming irrelevant in the modern, global economy.
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The U.S. economy may lose a step to record high oil prices but concerns over inflation are likely to keep the Federal Reserve on a steady course of gradually raising interest rates, analysts say.