Filed under: Forecasts, Oil
U.S. Federal Reserve Chairman Ben Bernanke, in his most recent congressional testimony, termed the U.S. economic outlook as "unusually uncertain." Bernanke could not have been more on-the-mark. Case in point: The conflicting fundamental indicators. The housing sector and slower-growth manufacturing sector are signaling a slowing U.S. economic recovery.
However, the price of oil, which this week broke out of a $70-80 trading range, is signaling something other than a U.S. economic slowdown. Oil traded down 13 cents to $82.42 per barrel Wednesday afternoon.
Continue reading Something's Got to Give: Oil Rises to $82 as U.S. Expansion Slows
Something's Got to Give: Oil Rises to $82 as U.S. Expansion Slows originally appeared on BloggingStocks on Wed, 04 Aug 2010 16:40:00 EST. Please see our terms for use of feeds.
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