Light sweet crude settles at eighty nine forty nine
Oil markets show light, sweet crude ending the session at 89.49 dollars per barrel. Traders noted modest gains amid mixed economic signals as inventories and demand expectations influenced pricing.
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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jan 29, 2011
Page
10
Oil markets show light, sweet crude ending the session at 89.49 dollars per barrel. Traders noted modest gains amid mixed economic signals as inventories and demand expectations influenced pricing.
Escalating protests in Egypt spurred a risk-off move by investors. Stocks declined worldwide while Treasurys and gold rose, the dollar strengthened, and the Egyptian government deployed forces amid curfews and internet outages. Dow sank 166.13 points. Nasdaq dropped 68.39.
The Commerce Department says the economy grew at an annual 3.2 percent in Q4 2010 amid strong consumer spending, while unemployment stood at 9.4 percent. Analysts foresee 2011 may hinge on sustained consumer demand as stimulus fades, with wages rising modestly and savings slipping.
Tennessee Rep Phil Roe introduces a bill to reimburse local police for security at official congressional events. The plan creates a Capitol Police account with up to 10 million dollars annually, allocating about 23000 dollars per member if funds are evenly distributed, with officer presence requirements and prior written approval.
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