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Oil Price Remains Near Record High

Bruce Kasman of JP Morgan Securities tells Bloomberg News that he also expects rising oil demand in Japan, whose long ________ economy is beginning to grow, will have an impact.

"We call the axis of vigor - China, Japan and the US – for almost the year now they've been all an important source of demand growth in the world. That's one reason that oil has been firm. We're not expecting oil to go up significantly from here, but I think it's a world in which oil prices stay firm."

Oil prices have risen 41 percent in the past 12 months and have more than doubled in the past two years. Analysts are generally surprised that economic activity in America and Asia have continued at a high pace despite the higher gasoline prices that have been ________ personal income.

 
 
     
dormant   describes something that is not active or growing, but which has the ability to be active at a later time
     
erode   to slowly reduce or destroy
     
     
 
 
 

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