WYMT | Eastern KY | News, Weather, Sports

Worries about slowing global economy pressures oil

Questions about the extent of a slowdown in the global economy
keep putting pressure on the price of oil.
Benchmark oil dropped 21 cents to $83.02 per barrel in New York.
Brent crude fell $1.07 cents to $97.37 in London.
More evidence is emerging that the U.S. economy is weakening.
The Commerce Department says companies placed fewer orders to U.S.
factories in April. That comes after a third straight month of weak
job growth in May.
In addition, China's economic growth is slowing and Europe is
mired in a financial crisis that has sent the region's unemployment
rate soaring.
Meanwhile, AAA says the national average dropped about half a
cent overnight to $3.585 a gallon. The price has fallen nearly 21
cents in the past month.

(Copyright 2012 by The Associated Press. All Rights Reserved.)


WYMT CONTACT INFO 199 Black Gold Blvd. Hazard, KY 41701 606-436-5757 - switchboard 606-439-9968 - newsroom
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 156987285 - wkyt.com/a?a=156987285
Gray Television, Inc.