Oil prices

The unrest across the Middle East has oil prices on the rise.

Prices went as high as $103 a barrel on Thursday before settling down to around $97 on Friday. Libyan oil producers cut production between 500,000 and 750,000 barrels per day, which amounts to less than one percent of global daily oil consumption.

The International Energy Agency said that could be made up from surpluses held by member nations, including the United States. Saudi Arabia said it would also increase production to make up for the shortage.

But the volatility of the markets has investors and manufacturers concerned. The uncertainly grows the longer the uprisings continue.

Americans see the impact most immediately in prominently posted rising gas prices that change daily, but the effect will be felt throughout the economy.

Airlines have hiked domestic ticket prices five times this year. United Airlines has tacked on a $20 round-trip fuel surcharge, common in many industries to offset fuel costs. Manufacturers and retailers are also assessing the affect on them, not just in production costs but also sales as consumers' discretionary income declines. The travel and tourism business is worried that high pump prices will deter travel.

For now, economists are not predicting a return to another recession, but the uncertainly presents another setback to the economy.