Getting your player ready...
NEW YORK — The recent surge in oil prices skidded to a halt this week as economists raised concerns about weakening world demand and a massive tsunami struck one of the world’s biggest oil importers.
Japan is the third-largest oil importer in the world, and it’s unclear how much its economy will be affected by Friday’s disaster. Analysts said it’s likely Japan will consume less oil after some refineries shut down.
Benchmark West Texas Intermediate for April delivery lost $1.54 to settle at $101.16 a barrel on the New York Mercantile Exchange. Prices fell as low as $99.01 a barrel at one point. The Associated Press
