$100 oil not painful - yet

Jan. 3 - Oil at $100 a barrel may not be as painful to the economy, some analysts said, unless oil heads even higher and stays there for a meaningful amount of time. Some oil analysts expecting prices to bounce between $90 and $120 this year, which could send retail gasoline prices to new records and destabilize what has been a resilient consumer.

SPEAKER: Ira Eckstein, president, Area International Trading.

Conway G. Gittens reports from New York. REUTERS VIDEO