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ENGLEWOOD, Colo., March 6 (UPI) -- U.S. consumers paying $5 per gallon at gasoline pumps would be a serious economic setback but it is not a very likely one soon, IHS Inc. economists said.

"If there is a serious oil supply disruption in the Middle East and Brent crude prices top $150 a barrel, pushing the national average for gasoline prices to $5 … We would be staring recession in the face. But we are not near that point now," said a report from the economic research firm based in Colorado, formerly known as Information Handling Services.

Lehman Brothers' long unwinding road

NEW YORK, March 6 (UPI) -- Court documents show Lehman Brothers Holdings, the New York bank that did not survive the financial crisis, still has $65 billion in assets to sell.

Crude oil slips on demand concerns

NEW YORK, March 6 (UPI) -- Crude oil dropped to under $105 per barrel overnight in New York, as markets adjusted to news that China expected slower economic growth in 2012.

Soybeans up with most grain futures lower

CHICAGO, March 6 (UPI) -- Soybean futures rose Tuesday, while corn, wheat and oats fell with the dollar index up 0.59 percent.

Gold slides Tuesday

NEW YORK, March 6 (UPI) -- Gold prices dropped Tuesday as the dollar rose and equities went through their sharpest declines of the year on Wall Street.

A blustery sales week

WASHINGTON, March 6 (UPI) -- Retail sales receipts rose by 1.3 percent in the week ending Saturday after falling 1 percent the previous week, a trade association said Tuesday.

February steadier for CEOs

CHICAGO, March 6 (UPI) -- February was a slightly steadier month for chief executive officers at U.S. firms, private research firm Challenger, Gray & Christmas said Tuesday.

U.S. markets stumble hard

NEW YORK, March 6 (UPI) -- Stocks in New York fell sharply Tuesday, dropping farther than any day so far this year, as a recent rally proved to have a soft foundation.

Report says extreme poverty is declining

WASHINGTON, March 6 (UPI) -- The World Bank in Washington said Tuesday extreme poverty is in decline around the world, despite the nearly global economic recession.

Greece warns bondholders

ATHENS, Greece, March 6 (UPI) -- Greece said Tuesday that after it restructures its debt it can not guarantee there will be funds left to pay off private bond holders.

Online job listings rose in February

NEW YORK, March 6 (UPI) -- The ratio of job listings online to unemployed U.S. workers dropped below 1-to-3 for the first time since November 2008, The Conference Board said.

Europe flirting with recession

BRUSSELS, March 6 (UPI) -- Eurostat, the statistical agency of the European Union, confirmed Tuesday that the economies of the eurozone shrank in the fourth quarter.

China's role

When the economy tanked in 2008, many top-flight economists said, "that's OK, we'll just do business with China until things get better."

Rajoy defends abandoning deficit target

MADRID, March 6 (UPI) -- Spain's leader defended abandoning his country's deficit target, amid European criticism, saying a deepening recession made the move necessary.

Grains mixed Monday

CHICAGO, March 5 (UPI) -- Grain futures closed mixed Monday on the Chicago Board of trade with the dollar index off slightly, down 0.11 percent.

Crude oil near $107

NEW YORK, March 5 (UPI) -- Crude oil settled just above $107 per barrel Monday in New York while traders kept an eye on Middle East tensions and economic data that would indicate demand.

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