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Oil price rises as US economy seen strengthening

Associated Press -- Oil prices moved up slightly closer to $91 a barrel on Thursday as reports of a moderately improving U.S. economy, which suggests increased fuel consumption, outweighed a big rise in crude supplies.

By early afternoon in Europe, benchmark oil for April delivery was up 37 cents to $90.80 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 39 cents to close at $90.43 per barrel on the Nymex on Wednesday.

A report from the U.S. Federal Reserve issued Wednesday showed the country's economy strengthened across much of the country. The Fed's Beige Book report showed that auto sales, more hiring and the ongoing housing recovery helped the U.S. economy grow in the first two months of the year.

Also Wednesday, the U.S. Energy Information Administration

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Submitted Mar 07, 2013 By: WxVette

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dr047 Champion Author Cleveland Posts:2,592 Points:517,445 Joined:Aug 2010	Message Posted: Mar 8, 2013 3:35:24 AM Ignore dr047 Report Abuse Greed
Straitliner Champion Author Illinois Posts:1,498 Points:237,525 Joined:Sep 2012	Message Posted: Mar 8, 2013 3:10:03 AM Ignore Straitliner Report Abuse Sure it is, we have Pat Quinn, hes got a handle on things. HA HA.
NemoIL Champion Author Illinois Posts:3,025 Points:1,313,220 Joined:Aug 2008	Message Posted: Mar 7, 2013 9:48:37 PM Ignore NemoIL Report Abuse The economy is not strengthening here.
us4usa Champion Author Missouri Posts:5,987 Points:1,113,060 Joined:May 2008	Message Posted: Mar 7, 2013 9:45:49 PM Ignore us4usa Report Abuse Maybe the strengthening of my wallet, because it's getting harder to open it...
kcboy Champion Author Utah Posts:3,968 Points:1,507,800 Joined:Jun 2005	Message Posted: Mar 7, 2013 9:44:46 PM Ignore kcboy Report Abuse How about prices go down.
hank1326 Champion Author Los Angeles Posts:8,909 Points:1,733,585 Joined:Jun 2008	Message Posted: Mar 7, 2013 9:42:09 PM Ignore hank1326 Report Abuse What's next for spins?! Rising jobless rate is good for the economy?!
Rooster922 Champion Author Wilmington Posts:3,788 Points:656,070 Joined:Jan 2009	Message Posted: Mar 7, 2013 9:34:56 PM Ignore Rooster922 Report Abuse What?
GasholeMI Champion Author Lansing Posts:10,139 Points:1,718,140 Joined:Jul 2008	Message Posted: Mar 7, 2013 9:34:22 PM Ignore GasholeMI Report Abuse Why not, oil prices rose when the economy was bad too.
southrob Champion Author Tucson Posts:3,595 Points:687,200 Joined:Mar 2011	Message Posted: Mar 7, 2013 9:34:01 PM Ignore southrob Report Abuse dhan
ClassicWheeler All-Star Author Montgomery Posts:655 Points:308,875 Joined:Apr 2012	Message Posted: Mar 7, 2013 9:12:21 PM Ignore ClassicWheeler Report Abuse So if we have good economy news we rise oil prices to reflect the we have more money in our pockets? I didn't get that memo. So, why don't we stop for a minute and suppose that most of us didn't see more money in our pockets and stop assuming that we have extra money.
sawdust1825 All-Star Author Illinois Posts:842 Points:436,655 Joined:Sep 2011	Message Posted: Mar 7, 2013 9:08:22 PM Ignore sawdust1825 Report Abuse So which is it? Is crude dropping or raising?
Tsunamiron Champion Author Jacksonville Posts:1,429 Points:557,725 Joined:Mar 2011	Message Posted: Mar 7, 2013 9:07:06 PM Ignore Tsunamiron Report Abuse One article says prices are going down, as the other article says they are going down. All we need is a third article saying that the prices are staying steady and we will have all of the bases covered.
jrschl Champion Author Louisville Posts:2,967 Points:681,065 Joined:Jun 2011	Message Posted: Mar 7, 2013 9:04:46 PM Ignore jrschl Report Abuse I love how the article above this one says process are down.
jetskijerry Champion Author North Carolina Posts:3,896 Points:772,270 Joined:Mar 2011	Message Posted: Mar 7, 2013 9:02:32 PM Ignore jetskijerry Report Abuse crooks
sjhman Veteran Author Atlanta Posts:410 Points:276,920 Joined:Sep 2008	Message Posted: Mar 7, 2013 9:02:23 PM Ignore sjhman Report Abuse Confused, thought they were going down. Oh well.
jtfftj Champion Author New Hampshire Posts:2,178 Points:1,248,220 Joined:Sep 2005	Message Posted: Mar 7, 2013 9:02:04 PM Ignore jtfftj Report Abuse Bull Crapski.
bvrbill Champion Author Eugene Posts:3,217 Points:518,525 Joined:Jul 2011	Message Posted: Mar 7, 2013 8:58:39 PM Ignore bvrbill Report Abuse The economy doesn't seem to be strengthening. I know my wallet isn't seeing it.
prassu2012 All-Star Author Illinois Posts:676 Points:148,695 Joined:Dec 2012	Message Posted: Mar 7, 2013 8:56:23 PM Ignore prassu2012 Report Abuse want to see very low price
grt197 All-Star Author Illinois Posts:573 Points:126,335 Joined:Jan 2013	Message Posted: Mar 7, 2013 8:55:06 PM Ignore grt197 Report Abuse need less prices
OGW Champion Author London Posts:5,324 Points:1,531,150 Joined:Sep 2005	Message Posted: Mar 7, 2013 8:51:00 PM Ignore OGW Report Abuse The news said that the US economy was now at pre 2007 levels and it seems that people are spending more money than they have in a long time with record cars sales and other items.
clermont40miles Champion Author Cincinnati Posts:10,569 Points:1,771,920 Joined:Apr 2008	Message Posted: Mar 7, 2013 8:49:54 PM Ignore clermont40miles Report Abuse Needs to drop another $10 per barrel, minimum.
yonasb Champion Author Houston Posts:3,463 Points:738,375 Joined:Apr 2011	Message Posted: Mar 7, 2013 8:49:24 PM Ignore yonasb Report Abuse hope it go down in price
skybiker Champion Author South Carolina Posts:7,297 Points:1,559,515 Joined:Jul 2008	Message Posted: Mar 7, 2013 8:49:12 PM Ignore skybiker Report Abuse Temporary bubble that will pop!...
wayoung56 Champion Author Alabama Posts:2,800 Points:818,335 Joined:Oct 2006	Message Posted: Mar 7, 2013 8:47:15 PM Ignore wayoung56 Report Abuse I still think the "strengthening" of the US Economy is another NoBama Administration urban myth...
ssperkin Champion Author Durham Posts:1,454 Points:761,895 Joined:Dec 2010	Message Posted: Mar 7, 2013 8:45:33 PM Ignore ssperkin Report Abuse Not that it ever fell to the extent it should.
camel1 Champion Author Minnesota Posts:8,270 Points:2,266,615 Joined:Jul 2006	Message Posted: Mar 7, 2013 8:44:13 PM Ignore camel1 Report Abuse a stronger economy and hopefully a stronger dollar as a result should cause oil prices to decline. This must be speculators at work again.
preacherjohn Champion Author Modesto Posts:3,990 Points:1,919,760 Joined:May 2006	Message Posted: Mar 7, 2013 8:44:11 PM Ignore preacherjohn Report Abuse what is the truth here--last one said prices were down.
Is246 Champion Author Albuquerque Posts:1,013 Points:426,715 Joined:Apr 2011	Message Posted: Mar 7, 2013 8:40:27 PM Ignore Is246 Report Abuse Dept. of Defense is furloughing and the economy is getting better?
Doomsday64 All-Star Author Austin Posts:859 Points:336,030 Joined:Apr 2011	Message Posted: Mar 7, 2013 8:38:00 PM Ignore Doomsday64 Report Abuse Improving economy?
F34RL3SSNIT3 Veteran Author Austin Posts:363 Points:73,035 Joined:Mar 2013	Message Posted: Mar 7, 2013 8:37:15 PM Ignore F34RL3SSNIT3 Report Abuse okay
mstearno Champion Author Dayton Posts:8,066 Points:1,731,235 Joined:Jan 2008	Message Posted: Mar 7, 2013 8:34:34 PM Ignore mstearno Report Abuse more pot heads
gasmack Champion Author Ventura Posts:1,710 Points:667,575 Joined:Feb 2011	Message Posted: Mar 7, 2013 8:32:06 PM Ignore gasmack Report Abuse Good info. Thanks for post.
JimL1 Champion Author Phoenix Posts:8,217 Points:1,241,520 Joined:Jul 2003	Message Posted: Mar 7, 2013 8:31:24 PM Ignore JimL1 Report Abuse Another article posted here also today says: "Oil prices down as US demonstrates ample supplies amid signs of moderate economic growth." Which is correct, or are they both wrong together?
NorthglennBill Champion Author Denver Posts:7,422 Points:1,471,945 Joined:Oct 2008	Message Posted: Mar 7, 2013 8:28:26 PM Ignore NorthglennBill Report Abuse One article saying they are lower now this one saying they are higher. Does anyone really know what it going on?
Carol7777 All-Star Author Houston Posts:722 Points:147,985 Joined:Dec 2012	Message Posted: Mar 7, 2013 8:23:41 PM Ignore Carol7777 Report Abuse Does this mean higher pump prices again? Just when I had hope.
WIPACKERFAN Champion Author Chicago Posts:8,804 Points:1,843,450 Joined:Aug 2005	Message Posted: Mar 7, 2013 8:22:53 PM Ignore WIPACKERFAN Report Abuse Any excuse to raise prices.
bojiway1 Champion Author Minnesota Posts:2,049 Points:479,035 Joined:Dec 2011	Message Posted: Mar 7, 2013 8:16:12 PM Ignore bojiway1 Report Abuse Ugh
cwashi3324 Champion Author Cincinnati Posts:2,802 Points:573,290 Joined:May 2009	Message Posted: Mar 7, 2013 8:14:30 PM Ignore cwashi3324 Report Abuse Up up up!
s6sputnik Champion Author Austin Posts:6,222 Points:1,308,130 Joined:Jun 2007	Message Posted: Mar 7, 2013 8:10:03 PM Ignore s6sputnik Report Abuse Greed!
BREW9 All-Star Author Tampa Posts:881 Points:2,912,830 Joined:Jun 2004	Message Posted: Mar 7, 2013 8:08:53 PM Ignore BREW9 Report Abuse where
RitaVespa Champion Author Oregon Posts:2,981 Points:792,260 Joined:Jan 2011	Message Posted: Mar 7, 2013 8:07:35 PM Ignore RitaVespa Report Abuse The sequester hasn't tanked us? Nope...
milespergallon Champion Author Illinois Posts:9,749 Points:1,908,585 Joined:Feb 2007	Message Posted: Mar 7, 2013 8:04:44 PM Ignore milespergallon Report Abuse Completely contradicts the previous article.
HFAJR0034 Champion Author New Mexico Posts:6,438 Points:1,166,785 Joined:Jul 2009	Message Posted: Mar 7, 2013 8:04:36 PM Ignore HFAJR0034 Report Abuse $91.22 3.06.13
Lukus Champion Author Halifax Posts:8,283 Points:1,674,530 Joined:Nov 2007	Message Posted: Mar 7, 2013 8:03:35 PM Ignore Lukus Report Abuse That could be but wages are not going up.
Jedman982 Sophomore Author Modesto Posts:122 Points:160,300 Joined:Dec 2006	Message Posted: Mar 7, 2013 8:00:19 PM Ignore Jedman982 Report Abuse Ok
WIWalt Champion Author Wisconsin Posts:1,726 Points:415,545 Joined:Mar 2012	Message Posted: Mar 7, 2013 8:00:11 PM Ignore WIWalt Report Abuse ? conflicting articles?
Beaveronparade Champion Author Hartford Posts:2,105 Points:635,050 Joined:Mar 2011	Message Posted: Mar 7, 2013 7:58:41 PM Ignore Beaveronparade Report Abuse I see the gas prices going up here in CT as well.
Alaydown Champion Author Los Angeles Posts:5,116 Points:822,645 Joined:May 2007	Message Posted: Mar 7, 2013 7:58:18 PM Ignore Alaydown Report Abuse It will be interesting to see if it really is improving. Last quarter's GDP shrank, and nothing has happened to improve it from last quarter.
jackster111 Champion Author North Carolina Posts:3,327 Points:425,560 Joined:Feb 2012	Message Posted: Mar 7, 2013 7:57:17 PM Ignore jackster111 Report Abuse okay
toadNY Champion Author Albany Posts:7,042 Points:1,513,150 Joined:Apr 2008	Message Posted: Mar 7, 2013 7:56:39 PM Ignore toadNY Report Abuse Where?