Annie
Diamond Member
- Nov 22, 2003
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Are things in the tank or has the 'turn around begun'? Are we heading towards inflation?
http://www.marketwatch.com/news/story/oil-rises-after-better-than-expected-us/story.aspx?guid={E5F1EFAC-B4A1-4724-890A-ED7120DC39F8}&dist=msr_2
http://www.marketwatch.com/news/story/oil-rises-after-better-than-expected-us/story.aspx?guid={E5F1EFAC-B4A1-4724-890A-ED7120DC39F8}&dist=msr_2
Oil rises after better-than-expected U.S. GDP data
By Moming Zhou
Last update: 2:58 p.m. EST Jan. 30, 2009
NEW YORK (MarketWatch) -- Oil futures rose Friday after data showed that the U.S. economy, the world's largest oil consumer, shrank less than the market had expected in the fourth quarter. The U.S. economy contracted at a 3.8% annualized rate, the worst in 28 years, the Commerce Department reported. But the drop was still above economists' expectations of a 5.5% decline. Crude oil for March delivery ended up 24 cents, or 0.6%, at $41.68 a barrel on the New York Mercantile Exchange. Earlier it rose more than 4% to $43.44. In a week of volatile trading, crude has fallen three out of five sessions. It ended the week down 10% and the month down 14%.