Economic Recovery, Oil Prices | featured news

What only weeks ago was seen as a serious threat to the economic recovery could now turn into a stimulus everyone can love. Oil and gasoline prices are sinking, giving relief to businesses and consumers who a few weeks ago seemed about to face the highest fuel prices ever.

Oil prices tumbled 3 percent Thursday, as economists warned that the recent surge in fuel prices will eventually hurt the fragile economic recovery....

Oil prices fell 3.2% Monday, to below $70 a barrel, as further signs of weak fuel demand raised expectations that prices may have raced ahead of the nascent economic recovery.

Prices have dropped as traders and investors acknowledge that a global recovery will take longer than hoped.

The recession may have slashed demand while supplies have swelled, but oil is being hoarded as producers and investors await an economic recovery.