USA Today: Falling oil prices raise fears about economy
While most Americans are sure to celebrate oil prices hitting six-year lows, investors and those working in the oil industry were sulking Friday.
The Dow tumbled a whopping 367 points to 17,129 Friday and capped off its worst two-day slide since August, largely because oil fell below the critical $35-a-barrel threshold this week and investors are worried what that weakness may say about the global economy.
The price of U.S. benchmark crude dipped to close at $35.73 in trading in New York, the lowest in six years and a far cry from the $145-plus highs seven years ago.
Commentaries And Analysis On The Falling Price For Oil
Saudi Arabia Plans Major Economic Shake-Up Amid Oil Slump: Sources -- NBC/Reuters
Russia boosts oil sales in Asia, even as OPEC battles to win customers -- Reuters
Russia says not mulling any coordination with OPEC on oil -- Reuters
The oil glut -- The Week
Oil makes only one promise and that's volatility: Kemp -- John Kemp, Reuters
2015 Will End With Oil And Gas Markets Writhing In Pain -- Tim Daiss, Forbes
This indicator may mean more trouble for crude oil -- Stephanie Yang, CNBC
This is what will happen when U.S. oil producers start to export -- Yahoo News
OPEC Members In Jeopardy, How Long Can They Hold Out? -- OilPrice.com
Oil Prices: Is Recent History Poised to Repeat Itself? -- Motley Fool
Goldman Sachs expects oil prices to fall further as OPEC stands pat -- CNBC
Oil price crash could get even worse in 2016 -- CNN
What Past Oil Crashes Say About Today's Slump -- George L. Perry, Fortune
1 comment:
Obozo pointed to the stock market when unemployment was high.
Now the market is down but he finagled the unemployment stats (U3). What he can't finagle is the labor force participation rate (LFPR) and U6. All he can do is work on messaging. The NYT, WaPo and other usual suspects are more than willing to carry water.
There have been major layoffs at Fortune 100 corporations. It hits close to home. Obummer can blow smoke all he wants but we, the public, by and large do not swing that way.
The MSM (NYT, WaPo, et al) and the DNC and the Republican establishment are electing Donald Trump.
"The more you tighten your grip, Tarkin, the more star systems will slip through your fingers." -Princess Leia Organa
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