facebooktwitterRSS
- Advertisement -
  • Most Commentedmost commented up
  • Most Emailedmost emailed up
  • Popularmost popular up

Sorry, no featured jobs currently.

- Advertisement -
 

« News Home

Oil ends lower as ‘fiscal cliff’ concerns grow



Published: Thu, December 13, 2012 @ 4:33 p.m.

Oil ends lower as ‘fiscal cliff’ concerns grow

NEW YORK (AP) — The price of oil is ending lower today as doubts increased over political leaders’ ability to strike a deal in budget negotiations.

Benchmark crude is down 88 cents to $85.89 per barrel in New York.

Enthusiasm over the U.S. Federal Reserve’s plan to boost the economy, announced Wednesday, is being replaced by fears that President Barack Obama and Republican leaders were as far apart as ever on reaching a budget deal before year’s end. Without an agreement, significant tax increases and government spending cuts will automatically take effect.

That so-called “fiscal cliff” could pull the U.S. economy into recession, likely hurting demand for energy.

The average gas price across the U.S. dropped to $3.30 a gallon, the lowest point since July 3.


Comments

Use the comment form below to begin a discussion about this content.


News
Opinion
Entertainment
Sports
Marketplace
Classifieds
Records
Discussions
Community
Help
Forms
Neighbors

HomeTerms of UsePrivacy StatementAdvertiseStaff DirectoryHelp
© 2014 Vindy.com. All rights reserved. A service of The Vindicator.
107 Vindicator Square. Youngstown, OH 44503

Phone Main: 330.747.1471 • Interactive Advertising: 330.740.2955 • Classified Advertising: 330.746.6565
Sponsored Links: Vindy Wheels | Vindy Jobs | Vindy Homes