Alva Review-Courier -

US economy could shrug off oil prices if disruption is brief

 

September 18, 2019



DALLAS (AP) — The price of gasoline crept higher after a weekend attack devastated Saudi Arabian oil output, but if the disruption to global supplies is short-lived, the impact on the U.S. economy will probably be modest.

Prices spiked Monday by more than 14%, their biggest single-day jump in years, but retreated Tuesday, reversing some of the increase. U.S. oil fell nearly 5% to $59.96 a barrel, while Brent, the international benchmark, dropped 5.3% to $65.34.

A gallon of regular in the U.S. stood at $2.59 on Tuesday, up 3 cents from the previous day, according to the AAA auto club. Anal...



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