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Commodities Briefing - Categorized | Oil, Price Watch more

High oil prices will derail economic growth -Tanaka

Posted on 31 October 2011

Oil prices above $100 per barrel could contribute to an economic slowdown similar to the 2008 financial crisis, Nobuo Tanaka, former executive director for the International Energy Agency (IEA), said on Monday.
Brent crude LCOc1 prices, which have dropped more than 14 percent from a high of $127.02 touched in April, fell 95 cents to $108.96 a barrel by 0303 GMT. But prices now are currently three times higher from a low of $36.20 hit during the financial meltdown in 2008………………………………………..Full Article: Source


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