The Wenatchee World

Weather:

Weather

The latest extended forecast from The Weather Channel

Remove this weather forecast

Tonight

Lo45° Isolated Showers

Sunday

Hi59° Partly Sunny

Sunday Night

Lo39° Partly Cloudy

Monday

Hi55° Increasing Clouds

Monday Night

Lo43° Chance Rain

Tuesday

Hi54° Rain Likely

Tuesday Night

Lo44° Slight Chc Rain

Wednesday

Hi59° Mostly Sunny

Wednesday Night

Lo49° Mostly Cloudy

Thursday

Hi59° Chance Showers

Oil prices slide still lower as European economy drifts

Send to Kindle
Print This

NEW YORK — The price of fell to near $93 today after disappointing economic growth figures in Europe, with the 17-country eurozone languishing in its longest recession to date.

By early afternoon in Europe, benchmark oil for June delivery was down 94 cents to $93.27 a barrel in electronic trading on the New York Mercantile Exchange.

New figures released today showed the eurozone’s economy continued to contract in the first quarter, keeping it in recession for a sixth consecutive quarter. Although Germany avoided recession, its 0.1 percent quarterly growth was weak, while France fell into recession.

Oil prices have also been under pressure since the International Energy Agency on Tuesday raised its forecast for U.S. oil production while cutting its prediction for global crude demand.

All comments are moderated before appearing. For more information, please read the approval guidelines. Questions? See our Disqus commenting FAQ or our full commenting policy.

Comments Help

A few important points:

  • You must have a Disqus account to comment (your Wenatchee World login and Disqus login are completely separate)
  • You must provide your first and last name
  • Your comment must be civil

For more information see our Disqus commenting FAQ or our full commenting policy