RealNews

Asian powers, US warn oil shock to hit global economy

The United States and Asia’s four largest powers voiced concern on Saturday after a record spike in oil price as worries grew that energy costs may derail the global economy. Oil prices, which have soared five-fold since 2003, posted their highest ever one-day gain of 10.75 dollars to close at a new record of 138.54 dollars in New York after hawkish remarks by an Israeli official on oil producer Iran. Full Story

OODA Analyst

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