Oil Prices Fall on Concerns about Slowing Economy

By: Associated Press
By: Associated Press

Oil prices are below $93 a barrel, as concerns persist about the slowing global economy.

Benchmark West Texas Intermediate crude dropped $1.33 to $92.46 in Wednesday morning trading on the New York Mercantile Exchange. In London, Brent crude lost $1.96 at $114.50 per barrel on the ICE Futures exchange.

Investors are concerned about lagging consumer spending, weak demand for oil and gas, and sovereign debt problems in Europe that could spread.

Traders will look for more clues about demand later Wednesday when the government releases its weekly inventory report.

Gas pump prices were virtually unchanged at a national average of $3.701 a gallon. That's up less than a penny from a week ago, but over 97 cents higher than a year ago.


Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, Trolling or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to comments@kbtx.com. Please provide detailed information.

powered by Disqus
KBTX-TV Channel 3 4141 E. 29th Street Bryan, TX 77802 Phone: (979) 846-7777 Fax: (979) 846-1490 News Fax: (979) 846-1888
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 126665723 - kbtx.com/a?a=126665723
Gray Television, Inc.