Oil Reaches $95 a Barrel on Housing Permits, Middle East Tension

Oil climbed above $95 a barrel for the first time in three months as U.S. building permits reached a four-year high and on concern that Israel will strike Iran and disrupt supplies from the Middle East.

Rising fuel costs cloud US economic outlook: Fed

Higher gasoline prices are muddying what is an otherwise improving outlook for the US economy, the Federal Reserve said in a keenly watched report, published Wednesday.