Tuesday, January 6, 2009

Drop in Inflation Lifts Europe Stocks

The New York Times - American stock markets opened higher on Tuesday while crude oil prices rose above $50 a barrel, their highest levels in more than a month, before falling back slightly.

Oil prices plunged from their summer peaks of $145 a barrel as the economic downturn spread, but they have rebounded from their lows as motorists took advantage of lower gasoline prices. A dispute over natural gas between Russia and Ukraine and a production cut by the OPEC cartel of 2.2 million barrels a day have highlighted concerns about tightening energy supplies.

“At least for the next couple months, it’s pretty much going to be strictly a supply and demand type of situation,” said Al Greenberg, head Chicago Board Options Exchange floor trader at BNY ConvergEx Group. http://www.nytimes.com/2009/01/07/business/07markets.html?partner=permalink&exprod=permalink

No comments:


Watch videos at Vodpod and more of my videos

Search This Blog

Blog Archive

WSJ.com Video

WSJ.com: What's News US

NYT > Business

CNBC Top News and Analysis