• About Us
  • Home
Tuesday, September 26, 2023
No Result
View All Result
NEWSLETTER
WiredNewsEngine
  • Home
  • Press Release
  • Entertainment
  • Health
  • Legal
  • Business
  • Featured
  • Current
  • Home
  • Press Release
  • Entertainment
  • Health
  • Legal
  • Business
  • Featured
  • Current
No Result
View All Result
WiredNewsEngine
No Result
View All Result
Home Current

Sharp Decrease in Oil Prices

by WebMaster
November 13, 2008
in Current, World News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

CNNMoney.com — By the mid-day the oils prices will reach $120 and the gallon price will low down to $4 or may reaches $3.5, most of the Americans were relieved by this news; but is this a good signs reflecting the future of economy and during the financial crisis.

“There is no doubt that with gasoline prices dipping below $3.90 a gallon we have a bit of a reprieve on the energy front,” Merrill Lynch economist David Rosenberg wrote in a report Monday, “but the reality is that this is a chicken and egg game because the decline is reflecting the consumer recession.”

Customers decreased their spending which led to the sharp fall down of prices, and with the ongoing period of economic weakness due to the events around; costumers will going to reduce their spending more.

May’s decline was the third-largest monthly drop on record since 1942, says Stephen Schork, editor of the Schork Report energy and shipping newsletter in Villanova, Pa.

Americans are business today, economy news, financial crisis, low oil prices, oil prices than they were a year ago, Rosenberg writes, while energy use in inflation-adjusted terms has dropped 2% – an event he calls “extremely rare.”

However, this may not a good sign for most of economists but it may encourage people to drive more and return to deal with the market again, also it may lead to encourage them to pay their loans for banks and relief their debts.

Tags: business todayDavid Rosenberg;economy newsenergy front;energy use;energy;financial crisislow oil pricesMerrill Lynch;oil pricesoil;Pennsylvania;Schork Report;Stephen Schork;USD;Villanova;
WebMaster

WebMaster

Next Post

The Price of Being James Bond

Popular News

  • Silencil Reviews – Does It Silence Tinnitus for Real?

    0 shares
    Share 0 Tweet 0
  • Clinitron Bed Management For Flap Patients Is The Standard Of Care

    0 shares
    Share 0 Tweet 0
  • How Substance Abuse Causes Risky Behavior

    0 shares
    Share 0 Tweet 0
  • Organic Green CBD Review: Is OrganicGreen Hemp CBD Oil Safe?

    0 shares
    Share 0 Tweet 0
  • Ceremony CBD Oil Reviews: Trustworthy Hemp CBD Liquid Drops?

    0 shares
    Share 0 Tweet 0

Rehabs Near Me Launches New Rehab Services in the US

February 25, 2021

Ginger-Powered Recoup Beverage: A Founder’s Unlikely Story of Survival and Success

February 13, 2021

What is Unix: The Base of All Operating Systems?

February 2, 2021

Categories

  • Banking
  • Bollywood
  • Brand Partner Content
  • Business
  • Cancer
  • Current
  • Entertainment
  • Featured
  • Finance
  • Health
  • Hollywood
  • Legal
  • Press Release
  • Technology
  • World News
  • Home
  • Press Release
  • Entertainment
  • Health
  • Legal
  • Business
  • Featured
  • Current

No Result
View All Result
  • About Us
  • Home