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Analysis: Oil price rise raises specter of global recession

Reuters -- (Reuters) - A jump in energy prices is jamming the slow-turning cogs of an economic recovery in the West, but that may be nothing compared to the economic shock an Israeli attack on Iran would cause.

Oil rose to a 10-month high above $125 a barrel Friday, prompting responses from policymakers around the world including U.S. President Barack Obama, watching U.S. gasoline prices follow crude to push toward $4 a gallon in an election year.

Europe may have more to fear as its fragile economic growth falters and Greece, Italy and Spain look for alternative sources to the crude they currently import from Iran, where an EU oil embargo, intended to make Iran abandon what the West fears are efforts to develop nuclear weapons, comes into force in June.

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Submitted Feb 26, 2012 By: joeleal77450

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bigmoo63 Champion Author Kalamazoo Posts:1,275 Points:83,105 Joined:Nov 2009	Message Posted: Feb 27, 2012 10:22:01 AM Ignore bigmoo63 Report Abuse The FIRST recession never ended. This will just go deeper.
WalRus49 Champion Author Boston Posts:4,080 Points:869,840 Joined:Nov 2010	Message Posted: Feb 27, 2012 7:19:10 AM Ignore WalRus49 Report Abuse More organized mayhem and pillage.............
amerk73 Champion Author Dallas Posts:7,053 Points:1,622,015 Joined:Oct 2008	Message Posted: Feb 27, 2012 4:56:18 AM Ignore amerk73 Report Abuse bad news
anascom Champion Author Hamilton Posts:1,593 Points:553,115 Joined:Feb 2011	Message Posted: Feb 27, 2012 1:52:08 AM Ignore anascom Report Abuse so bad!
cheapchickKY Champion Author Lexington Posts:4,022 Points:797,265 Joined:Jan 2011	Message Posted: Feb 27, 2012 12:17:27 AM Ignore cheapchickKY Report Abuse Think we are already there.
leraar2 Champion Author Massachusetts Posts:3,764 Points:787,680 Joined:Mar 2011	Message Posted: Feb 26, 2012 11:50:25 PM Ignore leraar2 Report Abuse the oil company will have to refine it HERE. we will be the beneficiary of cheaper gasoline prices.
davenles Champion Author Texas Posts:3,201 Points:719,635 Joined:May 2011	Message Posted: Feb 26, 2012 11:05:24 PM Ignore davenles Report Abuse Just what we need.
RitaVespa Champion Author Oregon Posts:2,981 Points:792,260 Joined:Jan 2011	Message Posted: Feb 26, 2012 11:01:21 PM Ignore RitaVespa Report Abuse Recession hasn't ended
johnd900 Veteran Author Massachusetts Posts:475 Points:192,305 Joined:Jan 2012	Message Posted: Feb 26, 2012 10:31:21 PM Ignore johnd900 Report Abuse Speculation driving up the price...
Vetteblu Champion Author Denver Posts:2,675 Points:780,820 Joined:Oct 2010	Message Posted: Feb 26, 2012 10:05:29 PM Ignore Vetteblu Report Abuse Get rid of the GBS& everyone will be better off.
amerk73 Champion Author Dallas Posts:7,053 Points:1,622,015 Joined:Oct 2008	Message Posted: Feb 26, 2012 9:33:02 PM Ignore amerk73 Report Abuse here $3.55
lonewolf_947 Champion Author New Hampshire Posts:1,285 Points:576,820 Joined:Mar 2011	Message Posted: Feb 26, 2012 9:15:09 PM Ignore lonewolf_947 Report Abuse We'll see what happens..........
justme888CA Sophomore Author California Posts:205 Points:147,990 Joined:Sep 2010	Message Posted: Feb 26, 2012 9:01:15 PM Ignore justme888CA Report Abuse interesting news regardless of whether or not we like it...
FunMyster All-Star Author Indiana Posts:907 Points:73,215 Joined:Jul 2011	Message Posted: Feb 26, 2012 8:36:26 PM Ignore FunMyster Report Abuse ok
LEGION57 Champion Author South Carolina Posts:1,676 Points:283,110 Joined:Mar 2011	Message Posted: Feb 26, 2012 8:36:24 PM Ignore LEGION57 Report Abuse hmmm