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As markets energize again, oil prices soar

World oil prices soared on Tuesday, mirroring the performance of global equities, as markets followed eurozone debt developments closely. Brent North Sea crude for delivery in November jumped $1.59 to $105.53 a barrel in London midday deals. New York’s main contract, West Texas Intermediate (WTI) for November, rallied $2.18 to…

Obama will not cancel vacation over economic woes

WASHINGTON — President Barack Obama has no plans to cancel his summer vacation to deal with the US debt crisis and market turmoil sparked by fears over Europe’s finances, the White House said Wednesday. The president is due to head to his normal summer vacation spot on Martha’s Vineyard, an…