Oil prices end previous week on a low note amid economic concerns

12-Sep-11
Last week saw oil prices take a plunge along with stock markets, on deepening concerns about the health economies in Europe and USA. A lukewarm reaction was seen in the New York futures market to US President Obama's proposed jobs plan as the market is doubtful about how many jobs will actually be created and what the Congress will ultimately pass. Obama’s US$423.06 bln package of taxes and new government spending is aimed at tackling high unemployment and weak economic growth.
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