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Oil hits 4-month high on US economic data, Algeria

Seattle Times -- NEW YORK — The price of oil rose to a four-month high Thursday on positive reports about the U.S. economy.

Benchmark oil gained $1.25 to finish at $95.49 a barrel, the highest close for crude on the New York Mercantile Exchange since Sept. 17. Oil has now gained 4 percent this year.

Strong reports on housing starts and fewer unemployment claims made traders more optimistic about the U.S. economy. Builders started work on homes in December at the fastest pace since the summer of 2008, and the number of Americans seeking unemployment benefits fell to a five-year low last week. Both reports could signal greater demand for fuel.

Meanwhile Brent crude, used to price international varieties of oil, rose $1.42 to end at $110.10 per barrel on the ICE Futures exchange in London.

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Submitted Jan 18, 2013 By: bar1035

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Tomeboy Champion Author Twin Cities Posts:3,769 Points:559,665 Joined:Apr 2009	Message Posted: Jan 19, 2013 9:36:03 AM Ignore Tomeboy Report Abuse Message Posted 11-18 By: Bobmilan Price of gas in your tank does not change after you buy it. CRUDE price takes a while to work through system. ===================== Reply Posted 11-18: Gasoline prices have increased in my area by .37 cents a gallon in the last 3 days!! A 13% increase in the cost of gasoline!! It didn't take long for the price of crude to work it's way through our system of local gas stations. We are on the fast track to gasoline price increases... thanks to traders (traitors) speculators.
Tomeboy Champion Author Twin Cities Posts:3,769 Points:559,665 Joined:Apr 2009	Message Posted: Jan 19, 2013 9:33:52 AM Ignore Tomeboy Report Abuse Oil has now gained 4 percent this year. A positive report for the oil industry and speculators. And the American consumer has lost a lot more in the price of gasoline! Economic reports could signal greater demand for fuel. "Could" signal greater demand for fuel. Traders (traitors) are more optimistic about the U.S. economy and early speculating on how the economy will go... will cost us all. Gasoline prices have increased in my area by .37 cents a gallon in the last 3 days!!!!!!!! A 13% increase in the cost of gasoline!! Here comes more increased costs for business owners and industry. Additional costs that will be passed onto the American consumers. The negative side for consumers on a positive report for the oil industry and oil traders (traitors).
GasCzarCO Champion Author Colorado Springs Posts:1,406 Points:800,010 Joined:Mar 2010	Message Posted: Jan 19, 2013 9:27:11 AM Ignore GasCzarCO Report Abuse I wonder what the economy would look like if fuel prices remained low for one year?
bston Champion Author Oklahoma City Posts:1,815 Points:641,300 Joined:Mar 2011	Message Posted: Jan 18, 2013 9:11:13 PM Ignore bston Report Abuse Let the price increases begin.
Wierbe Champion Author Cincinnati Posts:3,752 Points:1,119,115 Joined:Apr 2006	Message Posted: Jan 18, 2013 8:50:56 PM Ignore Wierbe Report Abuse A previous post noted usage was down. So I guess we leave it up to investors to get those prices back up. While it may benefit the speculator, it is not good for my wallet at the pump.
ExplorerWA Champion Author Washington Posts:4,078 Points:796,400 Joined:Feb 2011	Message Posted: Jan 18, 2013 7:16:59 PM Ignore ExplorerWA Report Abuse I don't believe it.
bojiway1 Champion Author Minnesota Posts:2,044 Points:478,060 Joined:Dec 2011	Message Posted: Jan 18, 2013 7:00:32 PM Ignore bojiway1 Report Abuse I don't think so
OGW Champion Author London Posts:5,324 Points:1,531,150 Joined:Sep 2005	Message Posted: Jan 18, 2013 7:00:09 PM Ignore OGW Report Abuse If the price goes too high, the economy will again falter.
mrbee Champion Author Little Rock Posts:3,754 Points:2,465,980 Joined:Oct 2005	Message Posted: Jan 18, 2013 6:45:06 PM Ignore mrbee Report Abuse Any reason.
garyr86 Champion Author Michigan Posts:1,998 Points:604,665 Joined:Dec 2010	Message Posted: Jan 18, 2013 6:42:00 PM Ignore garyr86 Report Abuse Am in Michigan and haven't seen the positive growth yet
ericbcire Champion Author Nevada Posts:4,520 Points:1,267,235 Joined:Aug 2009	Message Posted: Jan 18, 2013 6:38:04 PM Ignore ericbcire Report Abuse Prices must drop or the economy will worsen.
mahkokhan All-Star Author British Columbia Posts:647 Points:107,920 Joined:Oct 2012	Message Posted: Jan 18, 2013 6:36:10 PM Ignore mahkokhan Report Abuse its the military machine which demands the fuel. get rid of the military and redirect the resources for positive investment.
AC-302 Champion Author Los Angeles Posts:26,582 Points:2,902,095 Joined:Aug 2004	Message Posted: Jan 18, 2013 6:34:25 PM Ignore AC-302 Report Abuse Algeria isn't a problem. Those fool militants will find themselves at the bottom of the Indian Ocean if they aren't very, very careful.
g747 Champion Author Mobile Posts:4,541 Points:933,670 Joined:Jul 2009	Message Posted: Jan 18, 2013 6:34:17 PM Ignore g747 Report Abuse ANDDDDDDDDDDDDDDDDDDDDDDDDDDDD!!!!.
#12#_vabchusa All-Star Author Virginia Posts:762 Points:91,795 Joined:Jun 2004	Message Posted: Jan 18, 2013 6:31:23 PM Ignore #12#_vabchusa Report Abuse Anything and everything raises the gas prices
Lizzylou Champion Author Stockton Posts:8,818 Points:2,357,285 Joined:Oct 2005	Message Posted: Jan 18, 2013 6:30:15 PM Ignore Lizzylou Report Abuse Not good news for gas prices!
1Casey Champion Author Albany Posts:6,528 Points:1,791,785 Joined:Jun 2004	Message Posted: Jan 18, 2013 6:30:11 PM Ignore 1Casey Report Abuse o.k.
pastorpaulcg Champion Author Virginia Posts:3,615 Points:775,785 Joined:Dec 2010	Message Posted: Jan 18, 2013 6:24:38 PM Ignore pastorpaulcg Report Abuse Interesting contrast to a previous article
CDMAuto Champion Author Connecticut Posts:3,789 Points:753,760 Joined:Apr 2011	Message Posted: Jan 18, 2013 6:24:11 PM Ignore CDMAuto Report Abuse Here we go again.... UP UP Up
tdioiler All-Star Author Detroit Posts:892 Points:419,940 Joined:Jul 2011	Message Posted: Jan 18, 2013 6:23:26 PM Ignore tdioiler Report Abuse Any excuse to jack up prices on lowering demand and over capacity at the plants.
Elaine4411 Champion Author Pennsylvania Posts:1,648 Points:463,340 Joined:Dec 2011	Message Posted: Jan 18, 2013 6:23:06 PM Ignore Elaine4411 Report Abuse ok
TDIdave Champion Author California Posts:5,058 Points:1,224,740 Joined:May 2006	Message Posted: Jan 18, 2013 6:21:18 PM Ignore TDIdave Report Abuse Okay.
DustyHorse Champion Author Virginia Posts:6,085 Points:1,391,805 Joined:Oct 2008	Message Posted: Jan 18, 2013 6:17:21 PM Ignore DustyHorse Report Abuse How does the situation in Algeria cause a price spike?
firefly09 Champion Author San Diego Posts:2,497 Points:716,700 Joined:Mar 2009	Message Posted: Jan 18, 2013 6:17:07 PM Ignore firefly09 Report Abuse ok
BBHybrid Champion Author Pittsburgh Posts:6,469 Points:1,295,025 Joined:Aug 2008	Message Posted: Jan 18, 2013 6:16:54 PM Ignore BBHybrid Report Abuse and america sinks further into depression
rx7racerca Champion Author Calgary Posts:4,196 Points:1,112,100 Joined:Sep 2008	Message Posted: Jan 18, 2013 6:12:35 PM Ignore rx7racerca Report Abuse American's ought to be thankful they get a lot of their crude at almost $20/bbl off world prices. Crude out of Canada is selling in the US for more than $30/bbl off Brent pricing thanks to the glut at Cushing, OK.
Mystikal1 Sophomore Author Akron Posts:228 Points:602,335 Joined:May 2011	Message Posted: Jan 18, 2013 6:11:50 PM Ignore Mystikal1 Report Abuse Gas prices are up, up & away!
Bleeder Champion Author Virginia Posts:8,038 Points:1,699,625 Joined:Jan 2008	Message Posted: Jan 18, 2013 6:10:30 PM Ignore Bleeder Report Abuse Actually Mplato, it is more like oil up, gas up...oil down, gas up.
nick43 Sophomore Author Toledo Posts:158 Points:180,365 Joined:May 2004	Message Posted: Jan 18, 2013 6:08:45 PM Ignore nick43 Report Abuse Whats the excuse Now= Greed
midnightsdc Champion Author Ontario Posts:2,299 Points:1,483,315 Joined:Jan 2007	Message Posted: Jan 18, 2013 6:03:49 PM Ignore midnightsdc Report Abuse They are all crooks...
mplato Champion Author Columbia Posts:8,249 Points:1,815,270 Joined:Jun 2004	Message Posted: Jan 18, 2013 5:57:44 PM Ignore mplato Report Abuse dollar down....oil up....oil down....dollar up
amearly Champion Author Michigan Posts:12,119 Points:2,467,610 Joined:Jan 2006	Message Posted: Jan 18, 2013 5:56:40 PM Ignore amearly Report Abuse Just amazing right after one of the main speculators Goldmen saches claims summer oil to hit 150.00 dollars a barrel how convient just how there able to manipulate the market .
MotoDad Champion Author Phoenix Posts:1,106 Points:812,015 Joined:Sep 2006	Message Posted: Jan 18, 2013 5:53:11 PM Ignore MotoDad Report Abuse when are they going to base it on demand?
Number43 Champion Author Lexington Posts:8,697 Points:1,638,170 Joined:Oct 2008	Message Posted: Jan 18, 2013 5:53:04 PM Ignore Number43 Report Abuse Speculators are at it again.
brprven All-Star Author Dallas Posts:649 Points:285,110 Joined:Jun 2012	Message Posted: Jan 18, 2013 5:53:03 PM Ignore brprven Report Abuse Go for it
iamforiu Champion Author Indiana Posts:3,570 Points:710,665 Joined:May 2011	Message Posted: Jan 18, 2013 5:51:46 PM Ignore iamforiu Report Abuse drill baby drill
sit Champion Author Cleveland Posts:5,200 Points:1,931,970 Joined:Feb 2006	Message Posted: Jan 18, 2013 5:50:31 PM Ignore sit Report Abuse Oil will go up when the economy gets better.
AKmailman Champion Author Alaska Posts:5,633 Points:1,557,565 Joined:Jul 2004	Message Posted: Jan 18, 2013 5:49:35 PM Ignore AKmailman Report Abuse good old Brent Crude raising the price of gas again or have the speculators awoken from their hibernation ? [Edited by: AKmailman at 1/18/2013 8:50:26 PM EST]
TopGunn Champion Author Baltimore Posts:9,181 Points:2,615,305 Joined:Aug 2004	Message Posted: Jan 18, 2013 5:47:02 PM Ignore TopGunn Report Abuse Fodder for the A H speculators.
captainkettel Veteran Author Washington Posts:366 Points:1,143,510 Joined:Jul 2005	Message Posted: Jan 18, 2013 5:46:12 PM Ignore captainkettel Report Abuse Bend over! Here we go again...
jackster111 Champion Author North Carolina Posts:3,319 Points:424,585 Joined:Feb 2012	Message Posted: Jan 18, 2013 5:45:37 PM Ignore jackster111 Report Abuse okay
zaq001 Champion Author Atlanta Posts:3,975 Points:1,472,850 Joined:Oct 2008	Message Posted: Jan 18, 2013 5:43:57 PM Ignore zaq001 Report Abuse The traders must not be reading the same economic reports I'm seeing.
DrZNY Champion Author Albany Posts:2,559 Points:823,285 Joined:Jan 2009	Message Posted: Jan 18, 2013 5:43:41 PM Ignore DrZNY Report Abuse we need natural gas vehicles, get rid of all gasoline vehicles
IUVidiot Champion Author Indiana Posts:3,585 Points:708,360 Joined:Jun 2011	Message Posted: Jan 18, 2013 5:38:46 PM Ignore IUVidiot Report Abuse here we go again
gass12 Champion Author Omaha Posts:8,389 Points:2,303,715 Joined:Oct 2005	Message Posted: Jan 18, 2013 5:30:13 PM Ignore gass12 Report Abuse Doesn!t sound good.
1COR1533 Champion Author San Jose Posts:1,691 Points:315,285 Joined:Jun 2012	Message Posted: Jan 18, 2013 5:27:30 PM Ignore 1COR1533 Report Abuse its funny extra supply and the price goes up hmmmm
heysailor Champion Author Pittsburgh Posts:9,582 Points:2,332,670 Joined:Mar 2006	Message Posted: Jan 18, 2013 5:26:55 PM Ignore heysailor Report Abuse Prices will go up tonight at the pump
RAC110 Champion Author Massachusetts Posts:5,949 Points:1,851,545 Joined:Mar 2003	Message Posted: Jan 18, 2013 5:26:32 PM Ignore RAC110 Report Abuse up and down all the time makes prices dizzy
eye-spy Champion Author Quebec Posts:4,583 Points:2,416,870 Joined:Feb 2005	Message Posted: Jan 18, 2013 5:25:43 PM Ignore eye-spy Report Abuse Here we go again!!
The_DR Champion Author New Jersey Posts:2,780 Points:584,840 Joined:Aug 2011	Message Posted: Jan 18, 2013 5:22:01 PM Ignore The_DR Report Abuse Raise gas prices then.