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Crude oil slips below 62 as recession weighs in
Energy prices sank on Thursday after the Federal Reserve signaled the worst of the recession may be over yet the economy will shrink this year. Benchmark crude for July settled at 61.05 a barrel, down 99 cents, with Brent at 59.93 on ICE Futures. Nearly 6.7 million filed for unemployment benefits, a record high since 1967, as industries dependent on natural gas cut output and laid off workers.
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New York
Federal Reserve
New York Mercantile Exchange
London
Brent
ICE Futures Exchange
Labor Department