Oil falls to below $78 on recession fears
SINGAPORE - Oil prices fell to $78 a barrel Wednesday in Asia on concern a massive bank bailout by the U.S. and Europe won't keep the global economy from slipping into a severe slowdown that would erode crude demand. "People are worried that the world economy is heading for recession," said Gerard Rigby, an energy analyst at Fuel First Consulting in Sydney.
The U.S. plans to spend as much as $250 billion this year of a $700 billion bailout buying stock in private banks, President George W. Bush said Tuesday.
[More...]. Wed Oct 2008 03:10 (1 month, 1 week ago)
iStock Analyst
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The U.S. plans to spend as much as $250 billion this year of a $700 billion bailout buying stock in private banks, President George W. Bush said Tuesday.
[More...]. Wed Oct 2008 03:10 (1 month, 1 week ago)
iStock Analyst
760 articles in collection
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