Oil raises economists&#39; concerns
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WASHINGTON - Crude oil prices soaring to nearly $50 a barrel have heightened concerns that sustained high energy costs could drag the slowing US and world economies into a more serious downturn.
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THE sharemarket should take heart from US Federal Reserve chairman Alan Greenspan&#39;s comment that sky-high oil prices won&#39;t harm the US economy - as long as they don&#39;t go any higher.
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Some suggest that excess liquidity could threaten the world's economy.
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Higher oil prices pose the greatest threat to the world economy next year, but that will be only one of a number of risks facing global growth in 2005, namely depending too much
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OIL futures prices rose in Europe today amid concerns about heating oil supplies at the beginning of the Northern Hemisphere winter.
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Oil prices hit record highs on  Thursday, fueling gains in some energy stocks, but fears that  high power costs will dent household incomes, raise firms'  expenses and hurt global growth weighed on Asian share markets.
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Crude oil prices rose for the second day Thursday as traders worries that the Organization of Petroleum Exporting Countries (OPEC) might trim excess oil output.
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Top U.S. economic forecasters are  growing increasingly worried about the impact of surging oil  prices on consumer and business spending in 2005, a survey  released on Sunday showed.
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Crude futures prices rose Monday on concerns about tight heating oil supplies ahead of winter, strong oil demand in China and fears about a planned petroleum-industry lockout in Norway.
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Crude oil futures prices rose Wednesday amid concerns about tight heating oil supplies and fears that OPEC could rein in output when it meets later this week.
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The soaring cost of oil has hit global economic growth, although world&#39;s major economies should weather the storm of price rises, according to the OECD.
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Oil prices climbed higher in Asian trade on Monday as fresh concerns over the possibility of energy shortages in the northern hemisphere winter sparked another wave of panic among investors, dealers said.
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Oil prices jumped nearly 4 percent  Thursday after the International Energy Agency warned that  greater-than-expected demand and disappointing world production  growth could strain world supplies.
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Indicators like high oil prices and the slumping stock market have voters concerned.
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High oil prices, which have een a factor in virtually all US recessions over the past three decades, are surging again this year. And the higher crude oil prices climb, the more risk energy
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NEW YORK, December 6  - Oil prices increased today on fears of the announcement of an output cut by the OPEC during its meeting scheduled for later this week.
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While consumers, presidential candidates and the stock and bond markets are focused on oil prices, the oil traders themselves are more concerned about volatility.