1/ NEW YORK (MarketWatch) â Crude futures on Friday dropped to below $100 for the first time since March 1, extending recent losses, as the highest recorded earth quake in Japanâs history diverted attention from political strife in the Middle East.
J.P. Morgan analysts said the Japan earth quake and its aftershocks will affect the economy of Japan and the world at large. Read more about the Japanese quake.
2/ âThere will be an impact on power consumption,â J.P. Morgan analysts noted. âOil could see increased demand for power use, and outages have been reported at several refineries.â