NEW YORK, March 23 (UPI) --
Crude oil prices inched higher on the New York Mercantile Exchange Wednesday, topping $105 per barrel as fighting in Libya continued.
Oil traders are dealing with two heavyweight events pushing and pulling at prices simultaneously. Chaos in the Middle East, especially in Libya, is sending prices higher on the disruption of supplies. In Japan, however, a shutdown of many industries after the March 11 earthquake has diminished demand in the world's third-largest economy. In addition, the Japanese government has allowed oil companies to tap into national reserves as some parts of Japan are experiencing energy shortages.
CHICAGO, March 23 (UPI) -- Grain futures closed modestly lower on the Chicago Board of Trade Wednesday, with the dollar index higher, up 0.61 percent.
NEW YORK, March 23 (UPI) -- U.S. equities rose Wednesday after an early downturn prompted by a report that showed the housing market remained in a depression.
NEW YORK, March 23 (UPI) -- Gold prices closed at a record high Wednesday in sympathy with oil, which is considered an inflation bellwether.
WASHINGTON, March 23 (UPI) -- Portland, Ore., firm Gerber Legendary Blades is recalling 103,000 Gerber Gator Combo Axe sets due to knives coming loose during use, federal regulators said.
DETROIT, March 23 (UPI) -- United Auto Workers President Bob King tipped his hat to Ford President Alan Mulally Wednesday, then said his salary was reprehensible.
WASHINGTON, March 23 (UPI) -- The U.S. Census Bureau said Wednesday state tax collections dropped by $14 billion or 4 percent in 2010.
CHARLOTTE, N.C., March 23 (UPI) -- Bank of America said Wednesday it would submit a second proposal to the U.S. Federal Reserve concerning an increase in share dividends.
BUFFALO, N.Y., March 23 (UPI) -- A large crowd attended a public hearing in a New York town on a law to ban hydro-fracking and horizontal drilling for natural gas and oil, town officials said.
BRUSSELS, March 23 (UPI) -- New factory orders in the European Union and the eurozone rose slightly in January, Eurostat said Wednesday.
MOSCOW, March 23 (UPI) -- Russia will double its ballistic missile production starting in 2013, Russian Prime Minister Vladimir Putin has said.
CARSON, Calif., March 23 (UPI) -- Northrop Grumman Information Systems in California has won a U.S. Air Force delivery order for B-1 bomber aircraft mission planning capability.
LONDON, March 23 (UPI) -- The Bank of England said Wednesday that the recent slump in the British economy was, in part, an anomaly that showed signs of ending.
MINNEAPOLIS, March 23 (UPI) -- The U.S. Navy has contracted Alliant Techsystems of Minnesota to produce special ammunition for use in special operations rifles.
WASHINGTON, March 23 (UPI) -- Sales of new single-family homes fell sharply in February for the second consecutive month, the U.S. Commerce Department said Wednesday.
WASHINGTON, March 23 (UPI) -- The Mortgage Bankers Association said U.S. mortgage activity increased slightly in the week ending March 18, as long-term rates were mixed.
