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

  • Fast-food workers flexing muscles
    Fast-food workers say they’re prepared to escalate their campaign for higher wages and union representation, starting with a national convention in suburban Chicago where more than 1,000 workers will discuss the future of the
  • Lakeland has record quarterly earnings
    Lakeland Financial Corp. on Friday reported second-quarter earnings of $11.3 million, or 68 cents per diluted common share, a 22 percent increase over the $9.2 million, or 56 cents a share, posted for the same three months of 2013.
  • Petition prompts NHTSA inquiry into Impala air bags
    The U.S. government's highway safety agency has decided to seek further information from General ­Motors about air bag failures in some Chevrolet Impalas.
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