Soaring oil price casts shadow over US economy
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Oil prices surged briefly to a record high of 50 US dollars per barrel on Monday as the petroleum production in the Gulf of Mexico will not return to normal quickly after
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Tearaway world oil prices, toppling records and straining wallets, present a new economic menace barely three months before the US presidential elections.
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The price of crude reaches a new high in the US, driven up by official data showing a decline in heating oil stocks.
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US Treasury Secretary John W. Snow on Sunday said record-high oil prices baffle the development of US economy. &quot;It&#39;s creating headwinds for the otherwise very strong economy
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Oil prices slipped Friday after a shockingly weak US employment report fanned worries about recession and demand in the world's biggest energy consumer.
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US stocks were poised to open lower on Monday as oil prices hit a record high, fuelingconcerns that energy costs will squeeze economic growth.
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Record oil prices are creating headwinds for the US economy but do not place its recovery at risk, Dallas Federal Reserve Bank President Robert McTeer said on Monday.
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In shift of tone, White House says high energy prices are now dragging on US economy. CRAWFORD, Texas  - President Bush&#39;s economic advisers are warning that high energy prices have become a drag on
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High oil prices, which have been a factor in virtually all U.S. 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 U.S. economy.
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The surge in crude-oil prices to 50 dollars a barrel is likely to hold back the US economy but probably not cause a recession, analysts say.
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THE recent flurry of record oil prices may be temporary, but US Government analysts believe $US30 ($39.76)-a-barrel oil can be expected for decades to come.
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LONDON  - Oil prices see-sawed, failing to sustain a brief rally on news of a surprise fall in US distillate stockpiles, including heating fuel, and an unexpectedly small increase in crude inventories.
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U.S. stocks were poised to open lower  on Monday as oil prices hit a record high, fuelingconcerns that  energy costs will squeeze economic growth.
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The price of oil jumped back above 90 dollars on Friday, helped by a recovery in global stock markets on the back of plans for a stimulus package to prevent the US economy falling into recession, traders said.
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U.S. oil prices hovered near $47 a  barrel on Wednesday, awaiting data that was expected to show a  big drop in fuel stocks in the United States due to  weather-related disruptions to output and shipments.
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Oil spills and safety lapses in the United States have overshadowed record profits.
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US share prices struggled today as the crude oil price gushed to a record high in New York, passing $US51-a-barrel for the first time.