Asia Bizz: Oil Prices Fall For The Fourth Day As US Economy Keeps Wobbling
This was the fourth day that the oil prices in the US fell and it increased up to fall by 6.6% for the whole week. Main concerns behind the oil price fall is the slow growth rate that the national economy is attaining. The retail market in the US went to climb a positive a sheet, and the main reason behind the rise were the automobile and oil companies.
On Friday the whole scenario changed and the oil market was really low, as the consumers were still nervous on their spending,for the national economy was showing very little signs of improvement.
Prices dipped to 35 cents on each barrel standing at $75.39-49 in the market. There is considerable fear among spenders, as the oil industry fell earlier this month due to jobless claims and job cuts. All together the whole week for the US economy has been full of bad news, as spenders are still thinking of how to shell out their money in a wobbling economy.