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Article: Middle East Crisis, Oil Costs Threaten Nation's Economic Recovery.
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- April 8, 2002
CopyrightCOPYRIGHT 2002 The Milwaukee Journal Sentinel. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Thomas Content
Apr. 8--Middle East tension and oil prices that have jumped by one-third in the span of a few months provide more uncertainty for an economic recovery that is just under way, economic observers say.
Oil prices surged to highs that surprised many analysts amid continued fighting in the Israeli-Palestinian conflict.
"This is not good for the early recovery in the economy," said George Gaspar, oil analyst at Robert W. Baird & Co. in Milwaukee.
"If the economy was further along already, it could potentially absorb more easily this huge spike in prices," he said.
"The price of crude is up 40 percent since ...