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U.S. Government Shutdown Threat Sends Oil Prices Near Three-Month Low

2013-10-04 06:00:00| Climate Ark Climate Change & Global Warming Newsfeed

Christian Science Monitor: Investors fear even the temporary furloughing of hundreds of thousands of government employees will crimp a weak economic recovery and drive down demand for oil and gasoline. But that's only one piece of the puzzle. Potential boosts in supply are also putting downward pressure on oil prices. Warming relations between the US and Iran, and pursuit of a diplomatic solution in Syria portend a more stable situation in the oil-rich Middle East. In the US, a calm hurricane season has meant smooth and...

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