Oil prices trade near two-year highs...

Gasoline, nationally, tops $3 per gallon
NEW YORK, Dec. 23 (UPI) -- The national average price of gasoline breached the $3 mark Thursday as oil prices in New York flirted with two-year highs. Crude oil prices have escalated on encouraging economic news, cold winter weather and recent draws in U.S. stockpiles. Drivers have also increased time spent on the road this year, giving momentum to oil, which is a bellwether for consumer prices. AAA said a gallon of unleaded gasoline across the country cost on average $3.013 Thursday, up from $2...

Gas prices top $3 a gallon
NEW YORK (CNNMoney.com) -- Gas Prices surpassed the milestone $3 mark Thursday for the first time since Oct. 17, 2008, as the national average compiled by motorist group AAA reached $3.013 a gallon. Gas prices have risen more than 4% from $2.872 a month ago and are nearly 16% higher than the $2.585 average a year ago, according to the AAA figures. Email Print Comment Prices have been climbing steadily since bottoming out at $1.616 in December 2008. However, the average price is down $1.101 -- ...

Stocks poised for flat open
NEW YORK (CNNMoney.com) -- U.S. stocks were poised for a muted open Wednesday morning ahead of several economic reports, as investors pack up for the holidays and prepare for 2011. Dow Jones industrial average (INDU), S&P 500 (SPX) and NASDAQ (COMP) futures were nearly unchanged ahead of the opening bell. Futures measure current index values against perceived future performance. Email Print Comment On Tuesday, U.S. stocks rose modestly but managed to close at their highest levels in more t...

Crude Market Perspectives As WTI Passes $90
Heating Oil Prices followed the lead set by Gasoline prices on Monday, by breaking out over their critical resistance at 251.61 on Tuesday, finishing three points over that, at 251.64. Crude Oil Prices did not finish over $90.76, but they did finish at their highest level in two years at $89.82. And, now that Gasoline and heating Oil Prices have both broken their critical levels, we expect that crude Oil Prices will follow rather soon. The main factors pushing prices higher were optimism over ...

Oil climbs to 2-year high on frigid weather, rising
Singapore (Reuters) - Oil rallied to its highest price in more than two years on Friday, supported by unusually frigid weather that has fueled demand, depleted supplies and stoked inflationary worries from South Korea to India. European benchmark ICE Brent Crude for February hit an intra-day high of $94.74 a barrel, the highest level since October 2008, before easing back to trade up 32 cents at $94.57 a barrel by 1:49 a.m. EST. Global benchmark U.S. crude futures, which hit a 26-month high of ...

Stocks open flat
NEW YORK (CNNMoney.com) -- Stocks opened flat Wednesday morning, as investors begin to pack up for the holidays and prepare for 2011. The Dow Jones industrial average (INDU), S&P 500 (SPX) and NASDAQ (COMP) all gained about 3 points at the opening bell. Email Print Comment Trading is expected to be light heading into the Holiday Season. But though there's little news on tap for the rest of the year, stocks have trended upward. December has been a strong month for stocks -- the blue-chip Do...

US economic growth revised higher
The US economy grew at an annualised pace of 2.6% in the Third Quarter of 2010, figures have shown. The new figure is an increase on the earlier estimate of 2.5% growth in the quarter. Earlier this month, the US Federal Reserve said the US recovery was still too slow to bring down the country's high level of Unemployment....

Economic growth ticks up to 2.6%
NEW YORK (CNNMoney.com) -- The U.S. economy grew at a slightly faster pace during the Third Quarter than previously estimated, driven by stronger Consumer Spending, the government said Wednesday. Gross domestic product, the broadest measure of the nation's economic activity, grew at an annual rate of 2.6% in the three months ended in September, according to the Commerce Department, up from the previous reading of a 2.5% rise. Email Print Comment Economists expected the third and final reading ...

Oil hovers near 2-year high on cold snap, tighter stocks
By Randolph Fabi Singapore | Thu Dec 23, 2010 3:02am EST Singapore (Reuters) - Oil Prices climbed toward a two-year high on Thursday as cold weather in the United States boosted demand, slashed stockpiles and contributed to a stronger-than-expected rise in fuel consumption in 2010. U.S. crude for February rose 25 cents to $90.73 a barrel by 0714 GMT (2:14 a.m. ET), after settling at the highest level since October 2008 on Wednesday. ICE Brent Crude traded 14 cents higher at $93.79. Abnormally...

Consumer Spending Back Normal? Not So Fast
NEW YORK (Reuters) - As U.S. Retailers get ready to box up their Christmas decorations after a better-than-expected Holiday Season, many shoppers plan to join them by putting their wallets back in storage. Consumers hit stores in droves this year and are feeling better about their prospects. But they still confront bleak job prospects and still are trying to pay down their hefty Debt loads. That sets the stage for a "spending diet" come January, which could weigh on U.S. Economic Growth, since...

Gold and dollar slide Thursday
On the Comex division of the New York Mercantile Exchange, gold lost $7, 0.6 percent, to $1,380.40 per troy ounce. Crude Oil Prices for February delivery added $1.05 to $91.53 per barrel. The benchmark 10-year treasury note fell 13/32, causing yields to rise to 3.397 from Wednesday's 3.348 percent, as The Dollar index dropped 0.33 percent. The euro rose to $1.3117 from Wednesday's $1.3099. Against the yen, The Dollar dropped to 82.92 yen from Wednesday's 83.54 yen. The dollar fell across most of...

Oil hovers near 2-year high on cold snap, tighter stocks
By Randolph Fabi Singapore (Reuters) - Oil Prices climbed toward a two-year high on Thursday as cold weather in the United States boosted demand, slashed stockpiles and contributed to a stronger-than-expected rise in fuel consumption in 2010. U.S.... Will oil prices stabilize around $80? Singapore (Reuters) - Oil Prices climbed toward a two-year high on Thursday as cold weather in the United States boosted demand, slashed stockpiles and contributed to a stronger-than-expected rise in fuel cons...

3rd Quarter GDP Revised Up Very Slightly to 2.6%
The U.S. economy grew at a pace of 2.6% in the Third Quarter, according to the Bureau of Economic Analysis' third and final revision. This boosts the number upward slightly from the second estimate of 2.5%. But really, the change is more one of rounding, as it technically only changed from 2.53% to 2.56%. Although the final number barely moved, some of its components varied from estimate to estimate. This shows that some parts of The Economy did a little better than we thought, while others did ...

Diesel, jet fuel made from natural gas
Image by philipbouchard via Flickr NY Times: Diesel and jet fuel are usually made from Crude Oil. But with Oil Prices rising even as a glut of Natural Gas keeps prices for that fuel extraordinarily cheap, a bit of expensive alchemy is suddenly starting to look financially appealing: turning Natural Gas into liquid fuels. A South African firm, Sasol, announced Monday that it would spend just over 1 billion Canadian Dollars to buy a half-interest in a Canadian Shale Gas field, so it can explore...

Stock index futures unchanged
Traders work on the floor of the New York Stock Exchange December 3, 2010. PARIS (Reuters) - Stock index futures pointed to a flat opening on Wall Street on Thursday, with futures for the S&P 500 down 0.04 percent, Dow Jones futures up 0.01 percent and NASDAQ 100 futures up 0.01 percent at 0917 GMT (4:17 a.m. ET). Energy shares will be in the spotlight as Oil Prices climbed to near a two-year high on Thursday, boosted by an unexpected surge in global demand that has fueled the biggest drop ...

New Interest in Turning Gas to Diesel
By MATTHEW L. WALD NYT WASHINGTON — Diesel and jet fuel are usually made from Crude Oil. But with Oil Prices rising even as a glut of Natural Gas keeps prices for that fuel extraordinarily cheap, a bit of expensive alchemy is suddenly starting to look financially appealing: turning Natural Gas into liquid fuels. A South African firm, Sasol, announced Monday that it would spend just over 1 billion Canadian Dollars to buy a half-interest in a Canadian Shale Gas field, so it can explore turning...

Soybeans, corn rise on Argentina weather concerns
NEW YORK — Grain prices rose Wednesday as investors worried that a drought in Argentina might damage soybeans and corn growing in that country. Argentina is the world’s second-largest exporter of corn and the third-largest exporter of soybeans. The country has had dry weather for the past seven weeks. If that keeps up, it could reduce the size of the country’s harvest. "The fear is the pattern is going to continue," said Tim Hannagan, senior grain analyst for brokerage PFG Bes...

Stock index futures unchanged
PARIS | Thu Dec 23, 2010 4:37am EST PARIS (Reuters) - Stock index futures pointed to a flat opening on Wall Street on Thursday, with futures for the S&P 500 down 0.04 percent, Dow Jones futures up 0.01 percent and NASDAQ 100 futures up 0.01 percent at 0917 GMT (4:17 a.m. ET). Energy shares will be in the spotlight as Oil Prices climbed to near a two-year high on Thursday, boosted by an unexpected surge in global demand that has fueled the biggest drop in U.S. Crude Oil stockpiles in more ...

Gas prices hit $3 a gallon, highest in 27 months. Will they go higher?
Now at an average price of $3 a gallon, Gasoline could cost at least $3.50 a gallon by spring. Rising Gas Prices go hand in hand with higher Oil Prices, driven up by outlook for a stronger economy....

Gasoline Grinch arrives with pump prices above $3
Pump prices continue to rise in the Washington metropolitan area. Gasoline prices ticked up a penny over the past week. NEW YORK -- The national average for a gallon of regular gasoline topped $3 a gallon on Thursday, just in time for the holiday driving trips millions of Americans will take this week. The average pump price rose about a cent and a half a gallon overnight, to $3.01, according to AAA, Wright Express and Oil Price Information Service. That's 14 cents more than a month ago and 43 ...

Gasoline Tops $3 A Gallon For First Time At Christmas
Daily Finance: It may be the happiest season of the year, but higher Oil Prices that have translated into Gasoline prices topping $3 a gallon have many motorists frowning. According to the latest survey by the AAA motor club, the nationwide average for a gallon of regular unleaded fuel surpassed $3 a gallon Thursday, its highest level in more than two years. Read the whole story: Daily Finance Get HuffPost Business On Twitter and Facebook! Know something we don't? E-mail us at ...

Global stocks and oil rise in festive cheer
By Natsuko Waki PARIS | Fri Dec 24, 2010 5:49am EST PARIS (Reuters) - World stocks held near the previous day's two-year high on Friday while oil hit fresh two-year peaks after strong U.S. data this week encouraged investors to maintain their risk positions into 2011. Thursday's U.S. data showing demand for a range of long-lasting U.S. manufactured goods surged in November and Consumer Spending rose for a fifth straight month reinforced expectations for strong Economic Growth in the fourth qu...

Global stocks and oil rise in festive cheer
By Natsuko Waki PARIS | Fri Dec 24, 2010 5:49am EST PARIS (Reuters) - World stocks held near the previous day's two-year high on Friday while oil hit fresh two-year peaks after strong U.S. data this week encouraged investors to maintain their risk positions into 2011. Thursday's U.S. data showing demand for a range of long-lasting U.S. manufactured goods surged in November and Consumer Spending rose for a fifth straight month reinforced expectations for strong Economic Growth in the fourth qu...

Global stocks and oil rise in festive cheer
By Natsuko Waki PARIS (Reuters) - World stocks held near the previous day's two-year high on Friday while oil hit fresh two-year peaks after strong U.S. data this week encouraged investors to maintain their risk positions into 2011. Thursday's U.S.... Has QE2 worked? PARIS (Reuters) - World stocks held near the previous day's two-year high on Friday while oil hit fresh two-year peaks after strong U.S. data this week encouraged investors to maintain their risk positions into 2011. Thursday's U....

US economy shows faster growth
A boost in business inventories helped the US economy grow slightly faster than expected in the Third Quarter, offering hope that output will end the year on an upswing. Gross domestic product increased at an annual rate of 2.6 per cent, according to revised figures from the Bureau of Economic Analysis. That was faster than the 1.7 per cent growth in the prior quarter, but trailed Economists’ expectations. EDITOR’S CHOICE Fed extends Central Bank swap lines...