Oil prices fell more than 1 percent to $63 a barrel today, Tuesday, as growing uncertainty over an economic recovery spurred investor risk aversion.  A member of U.S. President Barack Obama’s economic advisory panel said the world’s top oil consumer should plan to possibly provide a second round of stimulus funds to prop up the economy, implying that recovery is still far off.

Oil prices fell on Wednesday as the stronger dollar and rising U.S. product stocks outweighed supply concerns from Nigeria.

U.S. stocks tumble, Dow at lowest level in six years… European stock index hits six-year low… Tokyo stock index close lowest for 25 years…

U.S. crude, gasoline stocks seen rising in EIA report… China slows sharply in Q4; BOJ warns of deflation…  U.S. stocks fall; Microsoft earnings miss forecasts.

February U.S. crude futures contract expires on Tuesday… Cold weather hits U.S. Northeast… OPEC says enforcing production cuts… Russia and Ukraine reach deal in gas dispute…

Rattner Floated as Car Czar; Sources: Barclays Planning 2,100 Lay Offs; BG Group Pumping Billions into Brazil Oil; Pfizer Cutting 800 Research Posts; Oil Snaps Week-Long Skid; Commercial Banks Borrowing Less Than Investment Banks; Companies Scramble to Fill Pension Plan Gaps

Dollar firms vs euro ahead of expected ECB rate cut… Traders eye U.S. data, central bank rate cuts for impetus… U.S. November car sales tumble 37 pct

Retailers 3Q Earnings Dismal; Cisco Sees Small Biz Sales Growth; Blackstone Posts $502 million 3Q Loss; IEA Sees $100 Oil Average; Mattel Toying with Job Cuts; Direct TV Earnings Up; Fidelity Cuts 1,300 jobs; Jobless Claims Fall

In the energy market Thursday, crude for July delivery recovered its recent losses, closing at its highest level in a week, at $127.79/barrel, up $5.49, or 4.5%. July reformulated gasoline rocketed 13.45 cents higher, to $3.3345/gallon.

You can’t got to bed these days without waking up to higher prices for everything. Crude futures in New York hit nearly US$130 overnight, and now everyone is wondering what’s next. US$150? US$200.