Tuesday, January 15, 2008

Oil falls sharply on economy worries (AP)



US President George W. Bush takes part in a roundtable discussion with Saudi entrepreneurs at the US Embassy in Riyadh.  Bush urged oil producers on Tuesday to take action over near record-high prices, prompting his Saudi hosts to vow to increase output when justified by the market.(AFP/Mandel Ngan)AP - Oil futures dropped sharply Tuesday as a dismal retail sales report confirmed a growing view among investors that the economy is slowing and that demand for energy is likely to fall.




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