From a shameless Associated Press:

Zitat

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Oil extends gains above $103 after US hiring jump

BANGKOK (AP) — The price of oil extended gains above $103 a barrel Monday after a stronger-than-expected jump in U.S. hiring suggested demand for fuels will increase.

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This is a small blurb from the AP. But it’s very telling about their mindset. Every bit of news, good or bad, must be put into the service of making Obama look good. No matter how big a stretch they have to make.

Zitat

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Benchmark crude for August delivery was up 18 cents at $103.40 at early afternoon Bangkok time in electronic trading on the New York Mercantile Exchange.

The contract on Friday jumped $1.98 to close at $103.22 in New York after the Labor Department reported that U.S. employers added a robust 195,000 jobs in June and many more in April and May than previously thought. The job growth suggests a stronger economy.

Oil has also been pushed higher by instability in Egypt where Mohammed Morsi was ousted as president by the military last week.

Egypt is not an oil producer, but its control of the Suez Canal, one of the world’s busiest shipping lanes, gives it a crucial role in maintaining global energy supplies…

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Gee, do you think that could be a factor?

But even though the AP does eventually get around to mentioning the situation in Egypt, that they would even connect the world price of oil to the recent anemic jobs numbers in the US, where most of the jobs were part time or service related jobs, shows their true mission.

Which is to help out Obama every way they can.

http://sweetness-light.com/archive/ap-at...29#.UdrD5Mk24tU

Gone are the sinister, behind the scenes, profit making explanations that they slapped on Geo Bush's back. Now when oil prices rise it is good because oil is bad for the environment and we want people to stop using oil. huh???

btw, the economy adding 195,000 jobs is not robust growth. this is a case of looking hard for any news to categorize as better than before. Leisure & Hospitality had especially strong job growth but avg hrs worked per week is 26. These are low paying, part-time food service jobs, exempt from health care mandate.

They can't seem to fool the business sector into committing financial suicide. Who can blame the employers?