Oil falls as Europe economy slumps
Associated Press
Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 2:24 am, Friday, February 15, 2013
BANGKOK (AP) — Oil prices fell below $97 Friday, a day after data from Europe showed both big and small economies in the region mired in an economic slowdown. Caroline Bain, commodities analyst at the Economist Intelligence Unit, said the combined economy of the euro nations is likely to contract again this year and oil consumption in the region will also fall. [...] oil prices could move higher this year as a result of modest growth in China and an upswing in U.S. oil consumption after two years of contraction, Bain said. Reported by SeattlePI.com 22 hours ago.
Associated Press
Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 2:24 am, Friday, February 15, 2013
BANGKOK (AP) — Oil prices fell below $97 Friday, a day after data from Europe showed both big and small economies in the region mired in an economic slowdown. Caroline Bain, commodities analyst at the Economist Intelligence Unit, said the combined economy of the euro nations is likely to contract again this year and oil consumption in the region will also fall. [...] oil prices could move higher this year as a result of modest growth in China and an upswing in U.S. oil consumption after two years of contraction, Bain said. Reported by SeattlePI.com 22 hours ago.
