From image on my computer to URL in my clipboard

"Is there a tool that has this
functionality?

There sure is ...

Tinypic/Imageshack Uploader

With this little tool you can very
easily upload pictures to
www.tinypic.com, www.imageshack.us and
www.messyshare.com without having to
go through their website. You can
enable shell link integration and
simply Right-click the file and select
“Send to
TinyPic/Imageshack/MessyShare“ or drag
the file to the app. window and it
will automatically start uploading.

Features:

Send multiple files in a queue
Crop an area of the screen
Send existing files via context-menu (32-bit only), selecting them from a dialog, or dragging them to the application window
Capture the active window when you press F11
Select a window from currently running applications via Aero live thumbs (Vista and W7 only)
Send your clipboard contents (image)
Send to either Tinypic, Imageshack or Messyshare, and get the direct link copied to your clipboard automatically
Auto-resize pictures and/or lower quality automatically if file exceeds a given size, to speed-up uploads on slow connections (like non-Japanese)
Store captures from cropping or paste etc
Supports multiple monitors in any configurations (spanned horz/vertically etc)
Works in Linux via wine libraries
.net framework is NOT required
Supports specific Windows 7 features (taskbar progress)
Store a log with comments and its link about every upload

Tinypic/Imageshack Uploader is freeware."

"The free tool Click.to has similiar functionality, helping to upload pictures to some websites.

Here is an article about Click.to:

http://techcrunch.com/2011/07/08/from-your-clipboard-to-just-about-anywhere-sharing-files-in-one-click-to/"