KQEH Nightly Business Report January 13, 2016
Welcome. Up through the ground came a bubbling crude. It made jed clampett rich but today the unrelenting supply of crude oil from saudi arabia and the oil states, russia and the United States is causing nothing but pain in the petroleum world. Today, domestic crude prices cracked 30 a barrel, heading down. That hasnt happened since 2003. Supply and demand are way out of what can. After breaking that level, oil managed to settle just above that psychologically important level of 30 bucks. And the pressure though is mounting. Prices are down 17 since the start of this year. Thats just 11 days a...