Crude oil prices dipped on release of data by the US Labor Department that employers have cut 17,000 jobs last month, signifying that the economy continues to weaken
CRUDE OIL Crude oil prices have dipped below US$90 in the week of February 4, 2008. Oil prices dipped to US$88.9 per barrel in New York, on release of data by the US Labor Department that employers have cut 17,000 jobs last month, the first reduction in more than four years and a sign that the economy continues to weaken. Spending on construction sector in USA also fell by a record amount. Earlier this week, at its meeting in Vienna, OPEC decided to keep output unchanged. This decision ignores US demands for an output hike, as OPEC looks to support crude prices that are dipping on fears of an economic slowdown.
Wednesday, February 06, 2008
Price trends of oil, polymer feedstock and commodity polymers in Asia for the we..
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment