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Oil whipsaws in volatile session on energy crunch fears- oil and gas 360

Oil whipsaws in volatile session on energy crunch fears

Reuters Oil prices steadied after whipsawing in a volatile session on Tuesday, as traders weighed the effect that higher energy costs could have on the global economic recovery.   Brent crude fell 4 cents to $83.61 a barrel by 10:46 a.m. EDT (1446 GMT). It earlier hit a high of $84.23 a barrel and a low of $82.72 a barrel.

Energy crunch stokes inflation, economic recovery concerns

Reuters BEIJING, Oct 12  – Authorities from Beijing to Delhi scrambled to fill a yawning power supply gap on Tuesday, triggering global stock and bond market wobbles on worries that rising energy costs will stoke inflation and curtail an economic recovery. Power prices have surged to record highs in recent weeks, driven by shortages in Asia and Europe, with an energy crisis in