Good news and some bad news...

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We will rise and fall with oil prices.

It's amazing how we just can't live with them, but we can't live without them...

For the last several months, as the economy has tanked, the price of oil has gone with it.

But when we get a hint of good news, oil prices go shooting up again.

I realize it's all about the laws of supply and demand, but it would be cool if just for a little while, we could here good news about the economy and oil prices at the same time.

Check out this excerpttoday from the Associated Press:

NEW YORK (AP) -- Oil prices rose sharply Thursday despite more hints that energy use is way down, with traders focusing instead on a rising stock market and surprising news from retailers that suggests Americans are spending money.

If registers at the mall are ringing, that likely means people are driving.

Benchmark crude for May delivery rose nearly 6 percent, or $2.86 to settle at $52.24 a barrel on the New York Mercantile Exchange. Trading was very light on a shortened trading week. Nymex is closed for Good Friday.

Here's the link to the story: http://finance.yahoo.com/news/Oil-prices-rise-sharply-on-apf-14897884.html

 

 

 

 

 

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About this blog

Economic Alert is a daily blog on business and the economy in the San Gabriel Valley and beyond, featuring updates and observations from the staff of the San Gabriel Valley Newspaper Group. SGVN includes the San Gabriel Valley Tribune, Pasadena Star-News and Whittier Daily News.

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Kevin Smith is business editor for the San Gabriel Valley Newspaper Group. Over the past 15 years, Smith has covered development, housing, employment, technology and financial trends for a variety of newspapers.
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Ryan Carter covers business and the economy for the San Gabriel Valley Newspaper Group.
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About this Entry

This page contains a single entry by Ryan Carter published on April 9, 2009 5:30 PM.

U.S. settling back in auto sales... was the previous entry in this blog.

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