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US stocks open lower as oil prices bounce higher; Bernanke says deep downturn unlikely

US stocks open lower as oil prices bounce higher; Bernanke says deep downturn unlikely

Wall Street is falling in early trading, with a jump in oil prices over supply concerns triggering more worries about inflation.
Crude prices are up $1.85 at $136.19 after surging above $139 last week. The Paris-based International Energy Agency says non-OPEC oil producing nations are having a tough time keeping up with demand.
Meanwhile, comments from Federal Reserve Chairman Ben Bernanke that a substantial economic downturn seems unlikely have raised expectations that the central bank might raise interest rates to fight inflation.
The Dow Jones industrial average is down 58 at the 12,222 level.