| Oil rises above $144 on US supply drop |
KUALA LUMPUR, Malaysia (AP) -- The price of oil is back up in record territory again today.
It's trading above $144 a barrel in Asia. The unprecedented price runup is being fueled by a multitude of concerns, including a larger-than-expected drop in U.S. stockpiles and the threat of conflict with Iran.
It's expected that the European Central Bank will raise interest rates today which could further weaken the U.S. dollar and drive oil prices even higher.
The price could also get a boost from increased buying ahead of the Fourth of July holiday. One analyst looks for oil prices to be "bubbling away at $145" a barrel.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
Posted: 3:21am EST July 3, 2008
| NJ officials warn of lamp oil poisonings |
TRENTON, N.J. (AP) -- New Jersey officials have issued a health alert saying six people have been sickened by mistaking lamp oil for apple juice, including one person who died.
Bruce Ruck of the state Poison Information and Education System says the six drank small amounts of the oil, which resembles apple juice in color and is packaged in a similar container. Health officials haven't identified the brand.
Ruck said Wednesday that the victims ranged in age from 18 months to 84 years. The 84-year-old died Monday.
Three of the survivors were hospitalized but have been released.
Ruck said an 8-year-old suffered permanent lung damage from drinking the oil.
A report by the Illinois poison control center identified 70 cases of torch oil poisonings nationwide during a two-year period ending in December.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
Posted: 7:33pm EST June 2, 2008
| Oil rises above $142 on supply worries |
KUALA LUMPUR, Malaysia (AP) -- The price of oil is back up above $142 a barrel today in Asia. And analysts see no quick end to the spikes because of tight supply and tension in the Middle East.
The price topped $143 a barrel yesterday before settling back to just under $141.
Analyst Victor Shum says until global demand eases, the price of oil is going to keep bubbling up into "bullish" territory. And a report by the International Energy Agency sees no drop in the overall global demand despite the price runup and an actual drop in demand for oil in the U.S. and Europe.
The agency says developing nations in Asia, the Middle East and Latin America will account for nearly 90 percent of the demand growth over the next five years.
The market is also being spooked by persistent talk of attacks on Iran. It's the world's fourth-largest oil producer and guards the vital Persian Gulf straits through which 40 percent of the world's oil shipped by tankers flows.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
Posted: 4:00am EST July 2, 2008
| 3-D mammograms, cameras may improve breast exams |
WASHINGTON (AP) -- The same 3-D concept behind the classic kids' toy the Viewmaster is being used to improve breast exams.
The goal is to give radiologists a better way to check for cancer in women with breasts too dense to get a clear picture on today's mammograms.
Donning 3-D glasses isn't the only potential aid.
The Mayo Clinic is testing a new kind of breast camera that might provide images as good as those of expensive MRI exams -- but at a fraction of the price.
Both technologies are experimental. But the research is being watched closely because the need is so great. Half of women younger than 50 and a third of women over 50 are estimated to have dense breast tissue.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
Posted: 3:55pm EST June 30, 2008
| Medicare fees to doctors won't fall Tuesday |
WASHINGTON (AP) -- The Bush administration is freezing a scheduled 10-percent fee cut for doctors who treat Medicare patients. That gives Congress time to stop the cuts after the July 4th recess.
The move also spares lawmakers from having to explain to seniors why they didn't do the job before leaving town.
The Centers for Medicare and Medicaid Services will hold doctors' Medicare claims delivered on or after July 1st until at least July 15th. Congress returns to session next week.
Almost every year, Congress finds a way to block the cuts. Both parties blamed each other for failing to do so this time.
On the Net:
Congress: http://thomas.loc.gov
(Copyright 2008 by The Associated Press. All Rights Reserved.)
Posted: 9:05am EST June 30, 2008
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