rise yet again today, hovering around $87 a barrel. sandra smith is live a the chicago mercantile exchange. sandra, what s going on there? reporter: gregg, right now we re watching prices charging higher. even above 87. now we re staring $90 a barrel straight in the face, up 1.57 up on the day, just at about 88.50 a barrel, so we re starting to talk about # \on/zero dollars a barrel yet again. what s pushing prices higher today? well, there are some reports on the economy that investors are choosing to look at the positive. we got the price index of 20 u.s. cities that did show a drop, but it was just a .1% drop, and that indicated that there may be some stabilization in the u.s. housing market and that has some bullishness in oil prices. when the perception is that the economy is improving, we do see buyers in oil. so that s what s pushing prices higher today. where do we stand as of now? we re up 18 percent as far as oil prices are concerned, over just the past few
the suspect iranian nuclear program, today s reports show iran is not willing to stop it war of word or espionage and claim that the united states is trying to do it, and their nabbing them, back to you. megyn: a new warning on the economic front. food prices could skyrocket this year. look at the increases we saw last year. milk prices jumped 5.pay the%. pork up 13%. eric bolling is the anchor of follow the money an joins knee now to put this in perspective. corn flakes and scott tissue going up? reporter: all of them. here is why. oil trading around $88.50 a barrel. two years ago when it traded $147.25 the economy was strong. world economies were strong. but it turned down and brought