Oil Shock Continues
Oil and gasoline prices continue to soar Monday on concerns of worker strikes, political turmoil, and speculation of a rate cut by the Federal Reserve. OPEC's president on Monday warned that oil prices could hit $200 a barrel and there would be little the cartel could do to help.
Funny, something that would not have impacted oil prices a year back is now having such a big impact. Wonder what might be driving this. ?
Europe will continue to slowdown
In its latest six-monthly forecasts, European Commission said economic growth in the 27-nation European Union would slow to 1.8 per cent in 2009 from 2.0 per cent this year. Growth in the 15-nation eurozone would fall to 1.5 per cent from 1.7 per cent.
Oil and gasoline prices continue to soar Monday on concerns of worker strikes, political turmoil, and speculation of a rate cut by the Federal Reserve. OPEC's president on Monday warned that oil prices could hit $200 a barrel and there would be little the cartel could do to help.
Funny, something that would not have impacted oil prices a year back is now having such a big impact. Wonder what might be driving this. ?
Europe will continue to slowdown
In its latest six-monthly forecasts, European Commission said economic growth in the 27-nation European Union would slow to 1.8 per cent in 2009 from 2.0 per cent this year. Growth in the 15-nation eurozone would fall to 1.5 per cent from 1.7 per cent.
