UPDATE 1-Oil troublesome but recovery intact -Fed&#39;s McTeer
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Record oil prices are creating headwinds for the US economy but do not place its recovery at risk, Dallas Federal Reserve Bank President Robert McTeer said on Monday.
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Oil held steady on Friday, hovering at  about $99 a barrel, after falling the day before as traders  took profits from a record rally that saw crude prices spike to  over $100 a barrel.
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(CBS/AP) Federal Reserve Chairman Alan Greenspan said Wednesday the economy has &quot;regained some traction&quot; after a late spring slowdown that was triggered by a sharp spike in oil prices.
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Federal Reserve Chairman Alan Greenspan said Friday that higher oil prices have had a &quot;noticeable&quot; affect on the U.S. economy this year but are unlikely to cause serious damage unless they move significantly higher.
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Record oil prices are unlikely to inflict the economic pain they did in the 1970s, Federal Reserve Chairman Alan Greenspan said on Friday, adding that he thought the world could adjust to higher-priced oil.
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Oil held steady on Friday, hovering at about $99 a barrel, after falling the day before as traders took profits from a record rally that saw crude prices spike to over $100 a barrel.
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Oil prices held firm, close to $47 a  barrel on Wednesday after U.S. data showed the disruption  caused by Hurricane Ivan had eaten into fuel stocks.
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Oil held steady below $91 on Tuesday, supported by hopes of a fresh cut in U.S. interest rates due to its fragile economy, coupled with forecasts for a draw in American distillate stocks and OPEC to maintain output levels.
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Will today&#39;s careening crude oil prices reprise That &#39;70s Show? Not according to Alan Greenspan. The Federal Reserve chairman said this year&#39;s price climbs will likely have a far gentler impact on the economy
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WASHINGTON -- Oil prices rose yesterday despite reports that refineries along the Gulf Coast and production platforms in the Gulf of Mexico which had been shut down were being restaffed as Hurricane Ivan proved less disruptive than feared.
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Oil prices held steady on Wednesday  as traders awaited key inventory data in the United States, the  world's biggest energy consumer, and a fresh outlook on the  U.S. economy from the Federal Reserve.
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Crude oil was little changed after rallying more than 2 percent yesterday when US President George W. Bush&#39;s re-election signaled the government probably will continue its policy of buying oil for a national reserve.
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Oil held steady below $91 on Tuesday,  supported by hopes of a fresh cut in U.S. interest rates due to  its fragile economy, coupled with forecasts for a draw in  American distillate stocks and OPEC to maintain output levels.
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Record oil prices are unlikely to  inflict the economic pain they did in the 1970s, Federal  Reserve Chairman Alan Greenspan said on Friday, adding that he  thought the world could adjust to higher-priced oil.
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Oil prices held steady near $47 a barrel  on Wednesday a day after setting yet another record when the  United States, the world's biggest oil consumer, said inflation  had stayed in check despite rising energy costs.
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Oil&#39;s rally wavered on Thursday, but worries over the security of Nigerian supply supported prices despite an easier US crude inventory picture and news that Russia&#39;s YUKOS would resume full supply to China.
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High oil prices will probably brake U.S. growth but will not derail the economy provided they do not rise sharply from current levels, top Federal Reserve policymakers said on Tuesday.