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Oil Falls on Growing Economy Concerns

NEW YORK (AP) -- Oil prices extended their slide on a growing sentiment that the United States might be headed for a recession that would depress demand for oil, according to the Associated Press.

Energy investors remained focused on recent government jobs reports that suggest the economy is struggling to make headway against the challenges posed by a troubled housing market and high oil prices.

Light, sweet crude for February delivery slipped 29 cents to $93.42 a barrel on the New York Mercantile Exchange.

Posted by Peter C. T. Elsworth  at 11:16 AM to Crude oil market | Permalink

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