Tuesday, January 3, 2012

$5 A Gallon For Gas? It Could Happen In 2012 « CBS Baltimore

Crude tops $100/barrel a barrel on stocks, Iran - Futures Movers - MarketWatch

SAN FRANCISCO (MarketWatch) — U.S. crude-oil futures topped $100 a barrel Tuesday, spurred by higher equity markets, a weaker dollar, and lingering geopolitical concerns surrounding Iran.

Crude-oil futures for February delivery /quotes/zigman/2203132 CL2G +3.76%  rose $3.45, or 3.5%, to $102.26 a barrel on the New York Mercantile Exchange. The contract traded as high as $102.30 a barrel earlier.

Crude ended the year with a gain of 8.2% for 2011, with the last trading days dominated by fears around Iran’s military exercises and threats to close the Strait of Hormuz, crossroads of the oil trading.

“As worries remain that further sanctions against Iran by Western nations may disrupt supplies, an undercurrent of support for prices remains,” said Matt Smith, an analyst with Summit Energy, in a note to clients.

Late-surging Santorum looks to rally voters ahead of Iowa caucuses - CNN

Rick Santorum started the new year riding the wave of a strong finish in the last major poll before Tuesday's Iowa caucuses and looked to rally his supporters in a series of events on Sunday.

There were few surprises in Saturday night's Des Moines Register poll -- front-runners Mitt Romney and Ron Paul finished 1-2 as they had in other polls during the week. But the Register poll showed Santorum, who just weeks ago had registered only in single digits, pulling ahead of rivals Newt Gingrich and Rick Perry.

Crude Advances Amid Manufacturing Expansion, Tension Over Iran - Businessweek

Jan. 3 (Bloomberg) -- Oil climbed in New York after manufacturing activity in China and India expanded, while concern persisted that further sanctions against Iran may disrupt supply.