Wednesday, April 25, 2018
News: Page (1) of 1 - 06/04/12 Email this story to a friend. email article Print this page (Article printing at page facebook
Worries about slowing global economy pressures oil
Oil prices stall on questions about the extent of slowdown in global economy; gas prices fall
By The Associated Press

Questions about the extent of a slowdown in the global economy keep putting pressure on the price of oil.

Benchmark oil dropped 21 cents to $83.02 per barrel in New York. Brent crude fell $1.07 cents to $97.37 in London.

More evidence is emerging that the U.S. economy is weakening. The Commerce Department says companies placed fewer orders to U.S. factories in April. That comes after a third straight month of weak job growth in May.

In addition, China's economic growth is slowing and Europe is mired in a financial crisis that has sent the region's unemployment rate soaring.

Meanwhile, AAA says the national average dropped about half a cent overnight to $3.585 a gallon. The price has fallen nearly 21 cents in the past month.

Page: 1


Our Privacy Policy --- About The U.S. Daily News - Contact Us - Advertise With Us - Privacy Guidelines