Oil Prices Fall Amid Signs Of Easing U.S. Demand
DEBORAH AMOS, host:
NPR business news starts with falling oil prices.
In the last week, the price of oil has dropped about $20, settling to about $127 a barrel. Those lower prices were triggered by relief that a hurricane looks unlikely to disrupt supplies in the Gulf of Mexico. But investors are also seeing signs of slowing demand for energy in the U.S. We're still the world's top energy consumer. Less demand, more supply, the prices come down. But just a bit. Oil prices are still up 30 percent over last year's price.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.