vishnuvega
07-06-2008, 06:56 AM
Wall Street's losses deepened as a key New York oil futures contract rocketed 9.91 dollars to a record 137.70 dollars per barrel before retreating somewhat.
Major US automakers such as General Motors have blamed soaring oil costs for falling sales and the closure of production facilities while big domestic airlines, including American Airlines, have announced layoffs and flight cutbacks due to rising fuel bills.
Major US automakers such as General Motors have blamed soaring oil costs for falling sales and the closure of production facilities while big domestic airlines, including American Airlines, have announced layoffs and flight cutbacks due to rising fuel bills.