Will High Oil Prices Lead to Recession?
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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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Governments around the region are warning that rising oil prices have started to hurt their economies.
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It should only be this simple: Oil prices plunge 20 percent, leading businesses and consumers to ramp up their spending, which gives a nice jolt to the economy. That seems to be the conventional wisdom on Wall Street right now, where the pullback in energy prices is being cheered by investors. But some contrarians think that view could be missing the point.
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High oil prices will probably brake U.S. growth but will not derail the economy provided there is not another sharp spike upwards, a top Federal Reserve policymaker said on Tuesday.
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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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The high level of oil prices is posing a risk for the European economic recovery, European Union industry lobby group UNICE said.
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Troubles buffeting the U.S. mortgage  market could get worse as resurgent crude oil prices squeeze  the finances of already hard-pressed borrowers, analysts say,  and that could spell more trouble for Wall Street.
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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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Although the United States is seemingly heading toward a recession, OPEC may soon have to cut its output to offset a seasonal demand slowdown in the spring.
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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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If prices keep rising, it could sour consumers and make the recession fight more difficult.
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The International Monetary Fund warned Tuesday that the risks of a global slowdown have increased due to higher interest rates, surging oil prices and an apparent cooling in the U.S. housing market that could slow the U.S. economy.
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Comment is free: Jeremy Leggett: Oil firms' output is down, yet profits skyrocket. It all points to the crisis predicted by the peakists
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High oil prices will probably brake U.S. growth but will not derail the economy provided they do not rise sharply from current levels, top Federal Reserve policymakers said on Tuesday.
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SANTIAGO: A &quot;terror-premium&quot; on oil prices and rising interest rates appear set to brake Asia Pacific economies after a roaring performance in 2004, the Asia-Pacific Economic Cooperation forum said in a forecast.
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The world will be living with volatile oil prices for years to come, but this yearâs price spike should not be serious enough to push the US into a recession, US Federal Reserve Chairman Alan Greenspan said yesterday.
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NEW YORK - Oil prices reached a new high yesterday before retreating to close below Thursday&#39;s record level, after the Iraqi insurgency increased its pressure on the country&#39;s oil infrastructure and traders feared that growing unrest might interrupt crude ...