$50-plus oil drags on economy
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Record prices boost the cost of heating oil, unnerve the stock markets, and clip GDP growth.
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Oil prices scrambled back over $50 a  barrel Tuesday, kept on edge by a prolonged production outage  in the Gulf of Mexico at a time when major exporters are  already pumping nearly full tilt.
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Consumers and homeowners, largely unaffected by rising oil prices over the summer, are beginning to see sharp increases in energy and utility costs as crude oil topped the $50-a-barrel mark yesterday and analysts remained unsure when volatile trading markets would calm down.
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Oil prices have fallen further below $50 a barrel as, with the result of the US presidential elections still difficult to predict, traders cashed in positions.
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Oil prices hugged $50 a barrel on  Wednesday on worries of potential supply disruptions and with  U.S. crude inventories expected to fall due to the lingering  effects of Hurricane Ivan.
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Oil prices edged lower in thin early  trade on Wednesday, keeping within sight of $50 a barrel on  supply worries in the United States, where weekly data is  expected to show a draw in distillate inventories.
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WASHINGTON - Crude oil prices soaring to nearly $50 a barrel have heightened concerns that sustained high energy costs could drag the slowing US and world economies into a more serious downturn.
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Crude oil prices pushed past the psychologically important 50 dollars per barrel mark today to an all-time high of 50.01 dollars as the market stayed bullish on a slow post-Hurricane Ivan recovery in the Gulf of Mexico.
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WASHINGTON - Weighed down by high energy prices, the US economy grew slower than the government estimated in the April-June quarter, as higher oil prices limited consumer spending and contributed to a record trade deficit.
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JAKARTA, Indonesia -- The Organization of Petroleum Exporting Countries wants oil prices that traded near $50 a barrel last week before retreating this week to fall faster, and will discuss whether to increase production at a meeting next month, the
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The price of a barrel of crude oil passed the record 50-dollar level on Monday, with various factors - such as the violent situation in Iraq and hurricanes in the Gulf of Mexico â-etting the blame for the hike.
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Oil prices marched toward $50 a  barrel on Friday, weighing on Asian stock markets as investors  fretted over the impact of high energy costs on corporate  profits, consumer spending and economic growth in general.
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U.S. oil prices hovered just below &#36;50 a barrel on Tuesday, holding recent gains on a rash of crude supply outages and fears over thin heating oil tanks.
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US oil prices were slightly softer on Monday after a four-day break, but the threat of a cold winter stretching persistently low global heating oil inventories kept the market within sight of $50 a barrel.
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Crude oil prices have dipped in New York, sliding as much as two dollars to around $50 a barrel. That&#39;s extending declines seen last week despite concerns that a planned strike in Nigeria could affect output.
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Oil prices edged lower on Wednesday,  keeping within sight of $50 a barrel on supply worries in the  United States, where weekly data is expected to show a draw in  distillate inventories.
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Oil prices held below $50 on Wednesday as a fresh jump in US crude oil inventories tempered the impact of President George W. Bush&#39;s move towards victory in the US election.