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OIL PRICES * USA - Tumble after U.S. rescue plan unveiled
Sioux Falls,SD,USA -The Associated Press/The Trucker, by DIRK LAMMERS -10 Feb 2009: -- Oil prices fell alongside the broader markets Tuesday with few details released about a Treasury Department program to raise more than $1 trillion in public and private funds to free up credit markets... The Dow Jones industrials lost 400 points after Treasury Secretary Timothy Geithner announced the rescue plan, and light, sweet crude for March delivery tumbled $2.01 to settle at $37.55 a barrel on the New York Mercantile Exchange... In its short-term outlook released Tuesday, the U.S. Energy Information Administration said the worsening global economy and a weak consumption means there is plenty of oil on the market, despite recent OPEC cuts. The EIA said it expects global oil consumption to decline by 1.2 million barrels a day this year but rebound by the same number in 2010...Labels: oil prices
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