Standard & Poor's Ratings Services believes crude oil prices over USD 148 a barrel could cause global panic and risk a double-dip economic recession, said its global chief economist David Wyss.
Brent crude oil futures fell 75 cents to USD 107.77 a barrel on Wednesday, a three-week low, as the Japanese crisis offset increasing tensions in Bahrain. US crude slid nearly 70 cents to USD 96.53. Prices reached almost USD 120 on February 24 as violence escalated in Libya, disrupting oil output.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
