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dow2664 Oil prices are jumping higher in the current economic environment. Prices for light crude oil per barrel have been above the $100 dollar mark several days this week. Better than expected economic data posted in the U.S. during the latter half of the trading week and this supported oil price trend-lines. Unemployment claims went down once again and fewer Americans are applying to extend unemployment into a second week. Housing starts were up as well. These reports are perceived as signs of an economy on the rise which in turn increases the potential for an increase in oil demand. The increased investor optimism sparked the market rally and pushed oil prices higher. In addition to this, the continued threat in Iran is keeping oil prices higher. Iran continues to feel threatened by Europe and the U.S. over imposed sanctions, and continues to threaten to block oil supplies from being distributed as a result. This action is pushing oil prices higher as well. Light crude oil per barrel finished the final session of the week higher by .91 percent with a posted floor price at $103.24. Camillo Zucari
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