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Oil prices climb above $97 as US unemployment rate drops to 8.3 percent

Washington Post -- Oil prices rose Friday after the government reported that the U.S. economy added more jobs last month, which could drive up demand for fuel with more people heading back to work.

That would include gasoline for cars if there are more commuters on the road. Gasoline futures increased by 3.04 cents to $2.8993 per gallon

Benchmark crude rose by 76 cents to $97.12 per barrel in New York on Friday. Brent crude rose by $1.54 to $113.61 per barrel in London.

Prices jumped after the Labor Department reported that the U.S. economy added 243,000 jobs in January. That was an unexpectedly big increase for the first month of the year and the unemployment rate fell to 8.3 percent. The government says companies hired across the pay scale, from high-salary professional services to manufacturing.

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Submitted Feb 03, 2012 By: Cakes77

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REPLIES (newest first)

remay Champion Author Houston Posts:5,222 Points:1,760,195 Joined:May 2006	Message Posted: Feb 5, 2012 1:17:13 PM Ignore remay Report Abuse What a title - not too long ago the price was OVER $100 and the unemployment rate was higher. Where do they GET these writers???
SkyWarnTX All-Star Author Texas Posts:945 Points:56,845 Joined:Jan 2012	Message Posted: Feb 5, 2012 12:33:34 PM Ignore SkyWarnTX Report Abuse More money to spend on Gas I guess...
Double_Golden All-Star Author San Francisco Posts:740 Points:243,805 Joined:Aug 2011	Message Posted: Feb 5, 2012 2:53:00 AM Ignore Double_Golden Report Abuse gas price just rise 2cent on the station that I use to fill my car
Sneakers55 Champion Author Houston Posts:44,863 Points:1,810,750 Joined:Nov 2005	Message Posted: Feb 4, 2012 8:45:34 AM Ignore Sneakers55 Report Abuse On Feb 4, 2012 6:11:50 AM, gawxnative wrote: >Fudging the numbers because of those out of the job search market Unemployment numbers are calculated by a set of international standard formulas. You can complain that the metrics exclude those out of the job search market but then the definition of being "in the job search market" is set fairly low. If you submit a single job application in the past four weeks, you are in the job search market.
bigmoo63 All-Star Author Kalamazoo Posts:883 Points:56,540 Joined:Nov 2009	Message Posted: Feb 4, 2012 8:02:11 AM Ignore bigmoo63 Report Abuse Just more smoke and mirrors during an election year. I dont trust anyone in DC. They have violated the trust of the average American so many times. Just waiting for the noses to grow again. Pathetic.
FPLREP Champion Author Virginia Posts:6,368 Points:2,089,570 Joined:Oct 2005	Message Posted: Feb 4, 2012 6:15:19 AM Ignore FPLREP Report Abuse I used to trust in our federal Government, now not so much. What I see and experience does not jive with what is published. Maybe it is an after-effect of a president that has "sealed/blocked' ALL of his past records. What does he have to hide?
gawxnative All-Star Author Atlanta Posts:507 Points:185,430 Joined:Aug 2006	Message Posted: Feb 4, 2012 6:11:50 AM Ignore gawxnative Report Abuse Fudging the numbers because of those out of the job search market
runout9 Champion Author New Jersey Posts:3,240 Points:978,145 Joined:Dec 2008	Message Posted: Feb 4, 2012 12:51:55 AM Ignore runout9 Report Abuse Pump prices are rising with or without those rigged employment numbers. Interesting how they just take millions & millions out of the labor force to rig the unemployment rate. The left will do anything & everything to get this marxist re-elected.
WalRus49 Champion Author Boston Posts:2,235 Points:506,815 Joined:Nov 2010	Message Posted: Feb 3, 2012 11:13:32 PM Ignore WalRus49 Report Abuse Just more organized mayhem and pillage...........
livable1 Champion Author New York Posts:2,323 Points:283,265 Joined:Oct 2008	Message Posted: Feb 3, 2012 10:41:29 PM Ignore livable1 Report Abuse give me break.
bullman68 All-Star Author St. Louis Posts:596 Points:297,450 Joined:May 2011	Message Posted: Feb 3, 2012 8:50:18 PM Ignore bullman68 Report Abuse Using the same calculator from healthcare study?
BuckyTJones Champion Author Salt Lake City Posts:3,118 Points:688,235 Joined:Mar 2010	Message Posted: Feb 3, 2012 8:13:48 PM Ignore BuckyTJones Report Abuse It sure would be a breath of fresh air to hear some truth some time.
humblepie Champion Author Toledo Posts:17,322 Points:2,009,320 Joined:Mar 2006	Message Posted: Feb 3, 2012 7:53:18 PM Ignore humblepie Report Abuse like anyone is dumb enough to believe a government report during campaigning season. maybe obama's sheeple, but no one intelligent...
Wanda127 Champion Author Florida Posts:1,497 Points:572,600 Joined:May 2010	Message Posted: Feb 3, 2012 6:36:01 PM Ignore Wanda127 Report Abuse I agree doeslayersr. They keep forgetting the ones that have dropped off the rolls & decided to just go on SS since jobs are hard to find.
07skydriver Champion Author Ohio Posts:1,458 Points:629,555 Joined:Feb 2009	Message Posted: Feb 3, 2012 6:10:12 PM Ignore 07skydriver Report Abuse GRCummins53, you are correct sir. Rush IS the biggest piece of Bull SH1P ever.
GRCummins53 Veteran Author Stockton Posts:337 Points:141,010 Joined:May 2011	Message Posted: Feb 3, 2012 5:07:47 PM Ignore GRCummins53 Report Abuse Rush talked about it this morning. 2.4 million LESS actual jobs from December 2011 to January 2012, but this is twisted into 243,000 MORE jobs due to seasonal adjustments. What BS!
Mooseman1 Champion Author Manitoba Posts:7,428 Points:1,463,980 Joined:Jul 2007	Message Posted: Feb 3, 2012 4:57:33 PM Ignore Mooseman1 Report Abuse Here unemployment is up and gas prices are down.
doeslayersr Champion Author Illinois Posts:5,821 Points:511,175 Joined:Dec 2010	Message Posted: Feb 3, 2012 4:47:12 PM Ignore doeslayersr Report Abuse 8.3% unemployment? Add 7% to that number to get the REAL % of over 15%. The current administration plays with the the numbers until it gets what it thinks it wants. They had to exclude the 7% which have been looking for work so long, they no longer qualify for unemployment benefits so they are excluded from the totals. [Edited by: doeslayersr at 2/3/2012 5:48:07 PM EST]
BobBG Veteran Author Albany Posts:447 Points:580,650 Joined:Nov 2005	Message Posted: Feb 3, 2012 4:31:54 PM Ignore BobBG Report Abuse I keep saying price of oil and the state of the economy are directly linked. I guess I'm not the only one saying it.
LEGION57 Champion Author South Carolina Posts:1,482 Points:247,525 Joined:Mar 2011	Message Posted: Feb 3, 2012 4:08:45 PM Ignore LEGION57 Report Abuse LIE LIE LIE All this odumbo admin does is LIE. They jury rigged the figures- the rate is WAY higher. I'm looking for a job but they stopped counting me when my unemployment ran out. Libs are a lying scum. Death to the demonrats!
paguy2012 Sophomore Author Pennsylvania Posts:109 Points:21,885 Joined:Jan 2012	Message Posted: Feb 3, 2012 3:57:09 PM Ignore paguy2012 Report Abuse supply & demand, more people commuting to work.........& such.
The_DR Champion Author New Jersey Posts:1,064 Points:233,395 Joined:Aug 2011	Message Posted: Feb 3, 2012 3:33:45 PM Ignore The_DR Report Abuse We just can't win.
Night Owl Champion Author Toronto Posts:5,780 Points:1,434,675 Joined:Jul 2004	Message Posted: Feb 3, 2012 2:58:58 PM Ignore Night Owl Report Abuse Greedy oil speculators use any excuse at all to raise oil prices.
kag2010 Champion Author Winnipeg Posts:3,409 Points:661,285 Joined:Apr 2010	Message Posted: Feb 3, 2012 2:40:00 PM Ignore kag2010 Report Abuse $97.12 per barrel good..
sjf238 All-Star Author Philadelphia Posts:715 Points:351,585 Joined:Mar 2011	Message Posted: Feb 3, 2012 2:27:52 PM Ignore sjf238 Report Abuse Bad.
BUSMAN1105 Champion Author Atlanta Posts:1,133 Points:838,175 Joined:Aug 2008	Message Posted: Feb 3, 2012 2:26:00 PM Ignore BUSMAN1105 Report Abuse Not Good news!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
qwerty17 Champion Author New Jersey Posts:2,047 Points:773,100 Joined:Oct 2009	Message Posted: Feb 3, 2012 2:21:49 PM Ignore qwerty17 Report Abuse climb downward.
kress999 Sophomore Author Alabama Posts:214 Points:248,970 Joined:May 2011	Message Posted: Feb 3, 2012 1:54:49 PM Ignore kress999 Report Abuse Just another excuse to raise case prices.
humblepie Champion Author Toledo Posts:17,322 Points:2,009,320 Joined:Mar 2006	Message Posted: Feb 3, 2012 1:30:42 PM Ignore humblepie Report Abuse like anyone is dumb enough to believe a government report during campaigning season. maybe obama's sheeple, but no one intelligent...