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Oil prices rise above $96 per barrel ahead of the release of US jobs, GDP data

Associated Press -- The price of oil rose slightly Monday, a sign of investor confidence in the U.S. economy's recovery ahead of the release of data on jobs, home sales and the country's overall growth.

Benchmark oil for March delivery was up 14 cents to $96.02 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell 7 cents to close at $95.88 on the Nymex on Friday after a report showed a cooling off in new U.S. home sales.

The U.S. government will release monthly durable goods figures later Monday, and the National Association of Realtors will report on pending home sales for December. Later in the week, reports on weekly jobless claims and employment data for January are due.

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Submitted Jan 28, 2013 By: RENEGADEGAS

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honda0105 Champion Author Tallahassee Posts:18,818 Points:1,636,245 Joined:Nov 2008	Message Posted: Feb 1, 2013 3:53:34 AM Ignore honda0105 Report Abuse one station here is charging 3.57, up from 3.39 this morning.
RapMassaG Champion Author Cincinnati Posts:2,646 Points:1,073,190 Joined:Oct 2008	Message Posted: Jan 29, 2013 2:50:54 PM Ignore RapMassaG Report Abuse Greedway/Speedway execs must be in a hurry to buy their new yachts this year. Gone from $2.75 to $3.59 in under a month. And wholesale has only gone up about 45 cents(not 84) in that same time frame.
camaro_man Champion Author Kitchener-Waterloo Posts:2,367 Points:637,770 Joined:Jun 2010	Message Posted: Jan 29, 2013 2:36:53 PM Ignore camaro_man Report Abuse wow good story....
tomok Champion Author Portland Posts:33,578 Points:2,372,235 Joined:Aug 2006	Message Posted: Jan 29, 2013 1:11:11 PM Ignore tomok Report Abuse Oil prices rise above $96 per barrel ahead of the release of US jobs, What Jobs? Big Oil and Big Gas sells fuel and natural gas on the world market for higher prices to other countries. 'Coming out of the closet' Sneeky's lousy, smoke and mirrors, lack of jobs, dog and pony show and in the crapper economy, the jobs are Not here. Sneeky's economy is not improving but continues to hurt the population and the job numbers continue to be down! The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! The price at the pump needs to go down to $2/gallon - $3, $3.50/gallon or *$4.00 is Not the new low! More Refineries are Not the answer, Stop exporting fuel is! Take care of the domestic fuel market first, above all else! Vehicle manufactures Produce and the population ‘Drives’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high! XII/XXII/MMXII! - The Day After......
studebaker1940 Champion Author Tampa Posts:2,648 Points:712,305 Joined:Mar 2011	Message Posted: Jan 29, 2013 7:42:06 AM Ignore studebaker1940 Report Abuse Get ready for $10 a gallon
OldMan322 Champion Author Illinois Posts:5,282 Points:1,621,155 Joined:Jul 2008	Message Posted: Jan 29, 2013 6:20:06 AM Ignore OldMan322 Report Abuse "gd83goldwinger" No its not gouging, bend over
virostek Veteran Author Virginia Posts:423 Points:90,285 Joined:Oct 2012	Message Posted: Jan 29, 2013 4:54:16 AM Ignore virostek Report Abuse Bummer.
remay Champion Author Houston Posts:7,078 Points:2,143,215 Joined:May 2006	Message Posted: Jan 29, 2013 4:52:47 AM Ignore remay Report Abuse here we go...
Wizrd03 Champion Author Illinois Posts:8,288 Points:1,659,060 Joined:Oct 2008	Message Posted: Jan 29, 2013 4:41:36 AM Ignore Wizrd03 Report Abuse Investor confidence - BS, speculator greed!
Ferdman17 Champion Author Albany Posts:1,420 Points:401,035 Joined:Feb 2012	Message Posted: Jan 29, 2013 3:59:14 AM Ignore Ferdman17 Report Abuse This is just wonderful. Here we go again!
SkooterG Champion Author Phoenix Posts:1,369 Points:344,185 Joined:May 2012	Message Posted: Jan 29, 2013 12:15:23 AM Ignore SkooterG Report Abuse Yeah, no kidding. Gas prices at the pump don't seem to coincide with oil prices. What a scummy industry.
gd83goldwinger Champion Author South Bend Posts:1,428 Points:519,230 Joined:May 2011	Message Posted: Jan 29, 2013 12:09:56 AM Ignore gd83goldwinger Report Abuse What I dont get is the cost was 120 to 150 a barrel back a few years and gas was in the 2.50-3.00 range. The cost has dropped and the price of gas keeps raising. This is not price gouging? Go figure.
vulcan96 Champion Author Ohio Posts:27,142 Points:3,126,070 Joined:Aug 2004	Message Posted: Jan 28, 2013 11:31:58 PM Ignore vulcan96 Report Abuse excessive greed is not good.....
iFueler Champion Author Durham Posts:64,983 Points:204,800 Joined:Nov 2012	Message Posted: Jan 28, 2013 11:29:18 PM Ignore iFueler Report Abuse there were a number of factors in play, including these
BEngr Champion Author Illinois Posts:6,846 Points:1,606,740 Joined:May 2008	Message Posted: Jan 28, 2013 11:25:47 PM Ignore BEngr Report Abuse They don't waste any time raising gas prices. Yesterday ours jumped 25 cents per gallon.
pinofl Veteran Author Miami Posts:364 Points:70,120 Joined:Dec 2012	Message Posted: Jan 28, 2013 11:25:32 PM Ignore pinofl Report Abuse we need low prices
RENEGADEGAS Champion Author Missouri Posts:15,064 Points:1,617,850 Joined:Jul 2008	Message Posted: Jan 28, 2013 11:18:05 PM Ignore RENEGADEGAS Report Abuse This is last nights news, why is it still up?
Rooster922 Champion Author Wilmington Posts:3,920 Points:681,820 Joined:Jan 2009	Message Posted: Jan 28, 2013 11:16:31 PM Ignore Rooster922 Report Abuse Really, surprise!!!
2005Retired Champion Author Arkansas Posts:11,975 Points:2,092,270 Joined:Aug 2007	Message Posted: Jan 28, 2013 11:10:53 PM Ignore 2005Retired Report Abuse up from 3.96 to 6016 in six days in NWArk
thunderstruck All-Star Author Chicago Posts:734 Points:754,970 Joined:Apr 2005	Message Posted: Jan 28, 2013 11:10:04 PM Ignore thunderstruck Report Abuse Gas prices already went up here in Chicago. Certainly not wasting any time.
TBONE3 Champion Author Pennsylvania Posts:8,876 Points:2,003,150 Joined:Mar 2005	Message Posted: Jan 28, 2013 11:09:53 PM Ignore TBONE3 Report Abuse Sure can't tell that there is an improvement in the basic economy here. There is no glut of available decent paying jobs around here.
kd5kpd Champion Author Texas Posts:3,872 Points:1,443,450 Joined:Apr 2006	Message Posted: Jan 28, 2013 11:09:40 PM Ignore kd5kpd Report Abuse Get ready for higher fuel prices & a collapsing economy!!
Kawibiker Champion Author Illinois Posts:1,221 Points:215,465 Joined:May 2012	Message Posted: Jan 28, 2013 11:09:32 PM Ignore Kawibiker Report Abuse more retoric to raise the prices.. soon won't be able to buy groceries.. cause gas costs too much.. no wonder why people working two and three low paying jobs.. to try and make it.. USA land of opportunity.. HUH! that's going out the window.
unicornpmb Champion Author Buffalo Posts:8,626 Points:1,656,240 Joined:Sep 2005	Message Posted: Jan 28, 2013 11:07:06 PM Ignore unicornpmb Report Abuse Not moving the right way.
KrsnaDragon Champion Author Montreal Posts:2,542 Points:558,025 Joined:Nov 2011	Message Posted: Jan 28, 2013 11:03:51 PM Ignore KrsnaDragon Report Abuse Speculation breeds despair.
gaspumpin Champion Author Indiana Posts:1,790 Points:414,905 Joined:Apr 2012	Message Posted: Jan 28, 2013 11:03:27 PM Ignore gaspumpin Report Abuse And...........gas prices surge by $.30/gal.
danreino Champion Author Twin Cities Posts:8,469 Points:1,563,535 Joined:Mar 2008	Message Posted: Jan 28, 2013 10:59:44 PM Ignore danreino Report Abuse $5.50 = no 550i
pa79th Champion Author Pennsylvania Posts:1,917 Points:1,242,825 Joined:Jun 2007	Message Posted: Jan 28, 2013 10:59:30 PM Ignore pa79th Report Abuse Destroy the Futures Market! It kills consumers!
judgemobile Champion Author Ohio Posts:7,700 Points:2,471,660 Joined:Nov 2005	Message Posted: Jan 28, 2013 10:58:57 PM Ignore judgemobile Report Abuse greed still lives.
kgbellman Champion Author Ann Arbor Posts:2,849 Points:758,565 Joined:Mar 2011	Message Posted: Jan 28, 2013 10:58:07 PM Ignore kgbellman Report Abuse Of course . . . and now Gas Buddy is showing prices trending up
defiancegasman Champion Author Ohio Posts:7,099 Points:1,327,520 Joined:May 2006	Message Posted: Jan 28, 2013 10:57:22 PM Ignore defiancegasman Report Abuse And what ever happened to "DEMAND and SUPPLY" setting the price??
craigsf38 Champion Author Rochester Posts:5,848 Points:1,536,980 Joined:Jun 2008	Message Posted: Jan 28, 2013 10:56:42 PM Ignore craigsf38 Report Abuse speculators will push it to $100/barrel before long
Tomeboy Champion Author Twin Cities Posts:3,905 Points:586,390 Joined:Apr 2009	Message Posted: Jan 28, 2013 10:52:22 PM Ignore Tomeboy Report Abuse The price of oil rose slightly Monday, a sign of investor confidence in the U.S. economy's recovery. Not good news for the majority of us who do not have investments in oil. A sign of investor confidence is a sign of dread for the rest of us. The economy looks better to investor's... and their investments are helping drive up the price of oil. What follows next?... higher gasoline and diesel prices. Which leads to increased operating costs for companies and small businesses across the U.S. And they pass those increased operating costs along to the consumer. More economic burden and hardship a lot of us can't take on. Many people with budgets already stretched to the max will be pushed over their own personal fiscal edge. More of our money being used for fuel means even less we will have to spend on other goods and services. Higher oil and fuel prices will stifle any economic recovery. The price of gasoline in my area of the Twin Cities has gone from $2.88 on 1-17 to $3.49 today 1-28. An increase of .61 cents a gallon in the last 11-days. Fast track price increases!! Now over $10.00 more for a tankful of gas!! Investor's confidence is nothing but bad news for the average consumer!! We don't need your confidence anymore investor's!! We can get along just fine without you!!
texasvet Champion Author Texas Posts:3,886 Points:364,140 Joined:Jul 2009	Message Posted: Jan 28, 2013 10:51:18 PM Ignore texasvet Report Abuse For some reason, the oil market thinks that we still have an actual economy.
Zonk Champion Author Michigan Posts:6,616 Points:2,129,490 Joined:Oct 2005	Message Posted: Jan 28, 2013 10:49:05 PM Ignore Zonk Report Abuse Unfortunately, you can't believe any reports the obama administration publishes. They tend to be tainted.
granitestater Champion Author New Hampshire Posts:8,975 Points:1,457,475 Joined:Oct 2008	Message Posted: Jan 28, 2013 10:48:18 PM Ignore granitestater Report Abuse Still under $100...
jrschl Champion Author Louisville Posts:3,102 Points:707,790 Joined:Jun 2011	Message Posted: Jan 28, 2013 10:46:07 PM Ignore jrschl Report Abuse The speculation runs rampant just on anticipation.
GAS1251 Champion Author Texas Posts:5,288 Points:1,652,935 Joined:Jun 2008	Message Posted: Jan 28, 2013 10:45:12 PM Ignore GAS1251 Report Abuse Explains the dime jump at the pump today.
probedude2 Champion Author Akron Posts:12,688 Points:2,406,930 Joined:Jun 2003	Message Posted: Jan 28, 2013 10:44:01 PM Ignore probedude2 Report Abuse Another excuse for Speedway to raise prices, probably later today here...
CarolinaDragon Champion Author South Carolina Posts:6,697 Points:764,435 Joined:Oct 2009	Message Posted: Jan 28, 2013 10:43:02 PM Ignore CarolinaDragon Report Abuse I hope prices do not inflate.
pgerassi Champion Author Milwaukee Posts:11,031 Points:2,158,270 Joined:Apr 2007	Message Posted: Jan 28, 2013 10:38:41 PM Ignore pgerassi Report Abuse Ban CIFs and watch the prices crash to half of what they are now.
bridgerunner Champion Author Virginia Posts:4,922 Points:1,033,560 Joined:Jul 2009	Message Posted: Jan 28, 2013 10:38:18 PM Ignore bridgerunner Report Abuse "...I still have belief in capitalism. It may suck for some, but EVERYONE has opportunity..." ----------------------------------------------------------------------------- I like this!
jwhite871 Rookie Author Wisconsin Posts:12 Points:151,415 Joined:Mar 2009	Message Posted: Jan 28, 2013 10:35:24 PM Ignore jwhite871 Report Abuse Until Ben Bernanke gets his head out of his ass and raises interest rates to at least 5.5% which will curb investor speculation in the futures markets don't expect gas to drop anytime soon to an afordable and reasonable price, his idea that low interest rates with his operation twist and QE are fuel for disastar for any real economic recovery, they say are economy is improving, the truth is there hasn't been any recovery other than bailouts by the government and consumer have just adapted to a different lifestyle and at the sametime, most without a job in the workforce that once were employed have runout of benefits, dropped out of the labor market, or are at no choice underemployed, saying welcome to Walmart is not a job Mr. Bernanke, thats community service get your head out of your ass and raise interest rates to give consumers the confidence to spend again or resign and let someone who really understands economics take your seat.
ican2step Champion Author Pittsburgh Posts:1,806 Points:451,425 Joined:Feb 2012	Message Posted: Jan 28, 2013 10:35:15 PM Ignore ican2step Report Abuse I still have belief in capitalism. It may suck for some, but EVERYONE has opportunity.
LQQKGAS Champion Author Phoenix Posts:2,765 Points:1,221,700 Joined:Oct 2009	Message Posted: Jan 28, 2013 10:35:11 PM Ignore LQQKGAS Report Abuse If it's Bush's fault then why isn't obuma fixin' it ???
Dailyrun Champion Author Kentucky Posts:2,117 Points:415,115 Joined:Apr 2012	Message Posted: Jan 28, 2013 10:34:05 PM Ignore Dailyrun Report Abuse yeah
Jmac2008 Champion Author Missouri Posts:2,406 Points:906,890 Joined:Dec 2008	Message Posted: Jan 28, 2013 10:32:39 PM Ignore Jmac2008 Report Abuse and as the demand for oil decreases, the price keeps going up, end speculation in the oil market.
WE0H Champion Author Twin Cities Posts:1,562 Points:489,725 Joined:Feb 2011	Message Posted: Jan 28, 2013 10:32:36 PM Ignore WE0H Report Abuse Why don't we use all the domestic oil instead of exporting it to control the oil prices? Is that because all these oil companies operating on US soil are really foreign owned?
unclenorman Champion Author Tampa Posts:1,474 Points:165,880 Joined:Jan 2012	Message Posted: Jan 28, 2013 10:31:47 PM Ignore unclenorman Report Abuse ok
Tigercat88 Champion Author North Carolina Posts:3,332 Points:643,590 Joined:Jul 2011	Message Posted: Jan 28, 2013 10:30:56 PM Ignore Tigercat88 Report Abuse SPECULATORS!