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Energy problems lift fuel prices and shake stock market
The week highlighted 19.3 percent November jumps in wholesale energy prices and a 1.8 percent rise in the wholesale price index. Oil imports, domestic crude costs, and embargo tensions fed higher gasoline and heating oil prices. The Dow swung from a three-year low to a late-week rally of about 50 points, boosted by hopes for Middle East talks and Ford's swearing-in. Prime lending rates edged up toward the 10 percent mark as major banks tightened loan costs.
MENTIONED IN THIS ARTICLE
Stepilen H. Miller
AP Business News
NEW York (Ap
America
Department of Labor
Herbert Stein
President's Council of Economic Advisers
Exxon USA
Standard Oil of Ohio
Sohio
BP Oil Corp
Cost of Living Council
Council
John T. Dunlop
Dow Jones
Gerald R
Ford
Middle East