OIl is rising. This will harm the US consumers.

Rising commodity prices increase prices and harm the consumers but they will also affect positively to the earnings of oil and mining companies.

The-short-term outlook may improve, but the long-term outlook gets worse.

Oil climbs above $77 | News | Hot Stocks | Reuters: "Oil climbs above $77
Thu Aug 2, 2007 1:37PM EDT

LONDON (Reuters) - Oil rose above $77 on Thursday, within sight of an all-time high, supported by expectations of tightening supplies as OPEC keeps a lid on output.

U.S. crude gained 67 cents to trade at $77.20 a barrel by 11:09 a.m. ET, after earlier falling more than $1 to $75.52. The U.S. benchmark shed 2.15 percent, or $1.68, on Wednesday."

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