Your web browser is out of date. Update your browser for more security,
speed and the best experience on this site.
You have successfully subscribed to the newsletter!
10 16, 2012 by The Times-Picayune
The price of oil is falling Monday and giving back the gains from last week.
In morning trading, benchmark crude oil is down 1.9 percent, or $1.71, at $90.15. Oil rose 2.1 percent last week.
Traders are brushing off some positive U.S. economic news. The Commerce Department says retail sales rose 1.1 percent last month. That follows a 1.2 percent increase in August.
The focus instead is on weaker oil demand. On Friday, the International Energy Agency issued a new report predicting slower growth in demand for oil over the next five years. The agency also forecast that supplies will increase as the global economy struggles to grow.
Jun 18, 2021 | LMOGA
Jun 15, 2021 | LMOGA
May 13, 2021 | LMOGA
Apr 15, 2021 | LMOGA