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Record 38.7 million hit roads as oil tops $99 a barrel
Crude Oil Hits Record Above $99 a Barrel as Holiday Travel Commences
Crude oil prices rose to a record above $99 a barrel Wednesday, lifted by worries about inadequate supplies as the Northern Hemisphere enters winter and on news of refinery problems. The declining U.S. dollar and speculation that the Federal Reserve will again cut interest rates also boosted prices. Some investors put their money into oil contracts as a hedge against the dollar, betting that oil gains will offset dollar weakness.
"The market is now really looking at $100 a barrel as the next target to hit," said Victor Shum, an energy analyst with Purvin & Gertz in Singapore. "The fact that we are having this surge in pricing in this short trading week underscores the strength of this bull run for oil." Fox News.
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Holiday travelers hit snarls as they take to skies, roads in record numbers
Millions of Americans are joining the bustle of Thanksgiving travelers on the eve of one of the nation's busiest travel days. For many, it's been painfully slow going. Weather delays of almost two hours greeted some travelers flying into Chicago's O'Hare International Airport on Tuesday evening.
In New York City, officials were preparing for a collective 3,492 landings and takeoffs Wednesday at John F. Kennedy International, Newark Liberty and LaGuardia airports, according to The Associated Press. Delays at those three airports were steadily worsening and almost three of four flight delays in the country can be traced to New York, AP said...
The price of gasoline jumped another 13 cents per gallon in the past two weeks, according to a survey published Sunday. The average price of a gallon of self-serve regular is $3.09, the Lundberg Survey found. That's just 9 cents below the record set in May. The travel organization AAA estimates 38.7 million Americans nationwide will travel 50 miles or more from home this Thanksgiving. That represents a 1.5 percent increase over last year... CNN.
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