BRASILIA, April 20- Brazils President Dilma Rousseff must assume her share of responsibility for the controversial purchase of a refinery in Texas by Petroleo Brasileiro SA, the former chief executive of the state-run oil company said in an interview published on Sunday.» Read More
U.S. oil prices touched a nine-month high Friday sparked by worries of low U.S. fuel supplies from creaking refineries and an upsurge of violence in the Middle East.
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Al Goldman, chief market strategist for A.G. Edwards, told CNBC’s “Closing Bell” that the market’s performance has been “very impressive” despite downbeat economic news.
Inflation data will set the agenda today as traders await the release of the CPI. Stock markets around the world are higher.
Stocks closed higher, with the Dow staging its biggest two-day gain since August 2006, as interest rates stabilized. "It's a little bit of a bounce because we got really oversold last week," said Tom Schrader, managing director of US listed trading at Stifel Nicolaus. "People are doing a little bargain hunting."
U.S. oil prices soared toward $68 a barrel on concerns over low fuel production from hobbled U.S. oil refineries and a flare up of violence in the Middle East.
Despite the recent rise in U.S. gasoline imports, motor fuel inventories will likely stay tight for the rest of the summer and pump prices will remain high, the government's top energy forecaster told Congress today.
Stock futures are higher today as investors await wholesale inflation data while keeping an eye on the bond market. Global stock markets rebounded after yesterday's turnaround on Wall Street and tamer bond markets.
Russian gas export monopoly Gazprom could raise production to 670 billion cubic metres (bcm) a year by 2020 rather than the planned 590 bcm, if the market needs more gas, a senior executive said on Thursday.
Oil surged nearly a dollar a barrel Wednesday after a U.S. government report showed gasoline stockpiles remaining well below normal at the start of the summer driving season.
Stocks rallied across the board and the Dow put in its best one-day performance of the year following strong economic data and a decline in bond yields. "The market has been oversold and people were focusing on rates but then the market started looking a little cheaper and we had buyers come in today," said Todd Leone, head of listed trading at Cowen and Co.
With refiners failing to operate at maximum capacity, Sen. Ron Wyden (D-Ore.) proposed a bill to take away government subsidies from oil companies if they do not increase refiner capacity."If you really want to help consumers who are getting clobbered at the pump, you've got to expand refinery capacity," Wyden said on "Morning Call."
A debate continues in the Senate over the energy bill that could bring massive changes to the current U.S. energy policy. On “Morning Call,” Christopher Horner, author of “The Politically Incorrect Guide to Global Warming and Environmentalism,” and David Hamilton, director of the Sierra Club’s Global Warming & Energy program, debated which party has the best policy.
Like a cyclone, the rate move in the global bond market is unsettling everything in its path and leaving a new high-tide mark for credit worldwide.
Turkmenistan's government has given a go-ahead to Russian oil giant Lukoil to work three fields in the energy-rich Caspian Sea, official media in the Central Asian nation reported Wednesday.
Stocks closed at session lows and the Dow was off 129 as Treasury yields rose to multiyear highs, dashing investors' hopes for a Fed rate cut. "A few weeks ago people were convinced rates were going lower, you don't hear any of that talk now," said James Maguire, floor broker at Christopher J. Forbes.
The yield on the 10-year Treasury note reached its highest level in more than five years Tuesday afternoon, as prices continued to slump amid broad market selling. The yield tapped as high as 5.27%, a level it last reached in mid-May 2002.
Oil prices dropped below $69 a barrel Tuesday amid expectations that U.S. gasoline supplies rose for the sixth straight week, easing worries of a crunch during the summer vacation season.
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