You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Goldman in deal worth $1.2 billion over US bond claims
      WASHINGTON – Goldman Sachs has agreed to a settlement worth $1.2 billion to resolve claims that it misled U.S.
  • Rib Room building sold; eatery to remain
    The owner of the Rib Room, 1234 E. State Blvd., has sold the building that houses the restaurant to local real estate investors Matt, Kurt and Chris Henry, according to a statement Friday.
  • Yellen sees economy as hazy
    JACKSON HOLE, Wyo. – If anyone thought Janet Yellen might clarify her view of the U.S. job market in her speech Friday, the Federal Reserve chair had a message:
Advertisement

Oil falls on economic jitters

BANGKOK (AP) — Global economic jitters and the prospect Italy will reignite Europe's debt crisis dragged oil down to near $92 a barrel Tuesday.

Benchmark crude for April delivery was down 89 cents at $92.22 per barrel at midafternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell 2 cents to settle at $93.11 on Monday.

Markets were rattled by the possibility of political paralysis in Italy after near-complete results in crucial national elections showed no clear front-runner. The uncertainty bodes ill for the nation's efforts to pass the tough reforms it needs to overhaul its debt-laden economy. That could reignite Europe's long-simmering crisis of confidence in the euro common currency.

Adding to the downbeat mood were weak manufacturing figures from China on Monday and looming spending cuts in the U.S. as political leaders in Washington remain at odds over how quickly to trim the budget deficit.

In London, Brent crude was down 82 cents at $113.62 on the ICE futures exchange.

In other energy futures trading on Nymex:

— Wholesale gasoline was down 3.7 cents at $3.227 a gallon.

— Heating oil dropped 2.6 cents to $3.072 a gallon.

— Natural gas rose 2.5 cents to $3.439 per 1,000 cubic feet.

Advertisement