RENEE MONTAGNE, Host: Oil prices have fallen to about $134 a barrel, down from the recent record high of more than $139. But traders say prices could easily turn around and go higher. Today, a leading energy watchdog group said global demand for oil will grow more slowly this year as high prices curb consumption. The International Energy Agency points to recent moves by Asian governments, including Indonesia and Taiwan, to cut subsidies they use to keep fuel prices in their countries artificially low. The IEA says any lull in demand may only be temporary. Strong economic growth is the key driving force. And China and Middle Eastern governments are unlikely to cut their fuel subsidies.
Host Renee Montagne has this morning's business news.