Oil prices were steady on Thursday after retreating from levels just cents below the record trading high established in the previous session on an unexpected drop in United States crude inventories. By afternoon in Europe, the contract was up 25 cents, fetching ,12 a barrel in electronic trading on the New York Mercantile Exchange.
No image available
/ 30 January 2008
United States growth skidded lower in the fourth quarter and was the weakest in five years for all of 2007, according to a government report on Wednesday that highlighted the toll an enfeebled housing sector has taken on the national economy. The dollar’s value declined against other major currencies on the soft GDP data.
No image available
/ 26 December 2007
Oil prices of near per barrel caused alarm in consuming countries in 2007, and analysts forecast another tense crude market next year with triple-figure records a real prospect. Despite a murky outlook for the world economy, crude prices are seen settling at elevated levels.