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Oil prices jump above $48 a barrel (Finance, 5 articles)
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Rallying oil prices climbed to within a dollar of $50 a barrel early on Monday as a blizzard enveloped the U.S. Northeast, boosting demand for heating oil. U.S. light crude rose 56 cents to $49.09 a barrel, building on Friday's $1.22 rally and pushing the market toward the $50 mark last touched on Nov. 30. Gas prices rose more than a nickel during the past two weeks, the first rise in about three months, a national survey said Sunday. Both the Federal Reserve and financial markets may have underestimated the long-term effects of higher oil prices, a top central bank official said Friday. VIENNA, Austria - Oil futures jumped more than a dollar to above $48 per barrel on Friday as OPEC forecast increased demand for its crude in the first half of the year. Analysts said prices also were being supported by anxieties over elections in Iraq on Jan. 30 and the meeting on the same day of the Organization of Petroleum Exporting Countries. Oil jumped more than a dollar Friday morning amid frigid weather in the Northeast and after U.S. government data showed a slightly larger-than-expected draw in natural gas stocks last week.
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Page One - Earnings Are Good; Market Is Down for the Week (Finance, 6 articles)
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Analysts expect Gdp to grow at an annual rate of 3.5 percent for the quarter though some believe that will be sustained through 2006 as well. Altria Group Incorporated which are expected to post earnings and. Verizon Communications Incorporated reporting Thursday which the company is expected to earn 50 cents per share when it releases earnings on Tuesday morning down from 62 cents per share in the fourth quarter of 2003.
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blaster@cs.columbia.edu
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