$50-plus Oil Drags on Economy
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Oil prices above $50 a barrel â-nd rising â - now starting to adversely affect the economy and consumers in ways that had not been happening only a few months ago.
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The dollar edged lower against the euro and yen, pressured by worries about US economic prospects and soaring oil prices, which hit new highs approaching 50 dollars a barrel.
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Oil prices were hovering close to last weekâs record high today after breaking through the $50 mark again. Production problems in the Gulf of Mexico due to the impact of Hurricane Ivan continued to have
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The price of US crude oil has eased in early trade, after breaching the $50-a-barrel mark on Friday. Light sweet crude for November delivery fell 42 cents from Friday&#39;s $50.
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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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European stock markets stumbled in early trading, tracking Wall Street lower as the price of oil reached a new high point in New York approaching 50 dollars.
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U.S. oil prices flirted with $50 on  Tuesday, jumping to their highest level in eight weeks after a  fire at a big Louisiana refinery slowed the plant's fuel  production.
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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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Oil prices hugged $50 a barrel on Wednesday on worries of potential supply disruptions and with US crude inventories expected to fall due to the lingering effects of Hurricane Ivan.
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European stocks slipped and the dollar  softened on Friday as the rise in crude oil prices toward $50 a  barrel raised the prospect of slower economic growth, which  supported bond prices.
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U.S. oil prices hovered just below  $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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World oil prices hit new records above $50 a barrel Tuesday amid fears that problems in oil-producing nations mean that oil supplies may not meet strong demand.
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U.S. oil prices reached a record $50 a  barrel on Monday as Nigeria emerged as the latest focus for  worries about supply in an already tight worldwide energy  market.
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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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US oil prices hovered below $50 a barrel on Tuesday, deepening a week-long $5 slump after some traders cashed in profits from this year&#39;s record-breaking rally ahead of the US presidential election.
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The price of crude oil surged above $50 a barrel in after-hours trading yesterday, raising fears of an economic slowdown and higher prices at the gas pump.
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WASHINGTON -- Oil futures retreated below $50 a barrel yesterday, though analysts said there is enough uncertainty about geopolitics and weather -- and the industry's ability to quickly boost crude output -- to keep prices from plummeting any time soon.