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Featured Articles for Jul 03, 2009Forecast & AnalysisRig Counts Pick Up Again;Why?Sure, oil prices aren't anywhere close to last year's record, but one theme from last summer survives: Drill, baby, drill... Full Story ENERGY MATTERS: Gasoline Fizzles; $63 Crude In SightNEW YORK (Dow Jones)--Gasoline prices have tanked ahead of the Fourth of July... Full Story Gasoline Demand Highest Since December 2007, MasterCard SaysJuly 2 (Bloomberg) -- U.S. gasoline consumption last week hit an 18-month high ahead of the traditional peak in demand over the July 4 holiday weekend, according to a MasterCard Inc. report... Full Story Weekly Natural Gas Storage DataWorking gas in storage was 2,721 Bcf as of Friday, June 26, 2009, according to EIA estimates. This represents a net increase of 70 Bcf from the previous week... Full Story Gas Market to ‘Tighten’ on Demand, Bernstein SaysJuly 2 (Bloomberg) -- U.S. natural-gas demand from industry and increased power generation will cause the gas market to “tighten” and push up prices, Sanford C. Bernstein & Co. said... Full Story Barclays Raises U.S. Oil Forecast 15% on FundamentalsJuly 2 (Bloomberg) -- Barclays Plc raised its third-quarter forecast for West Texas Intermediate crude oil by 14.5 percent from an estimate in June, citing expectations for fundamentals in commodity markets to return to “normalcy... Full Story Top StoriesSenate May Pass U.S. Climate Bill, Reject Treaty, Kerry SaysJuly 2 (Bloomberg) -- The U.S. Senate may pass legislation to slow climate change and then fail to approve a global treaty that commits nations to do so, Senator John Kerry said... Full Story Exxon, Valero Face New Curbs on Carcinogenic Gases Under ObamaJuly 2 (Bloomberg) -- President Barack Obama is considering new curbs on U.S. oil refineries whose gas emissions pose a cancer risk to hundreds of thousands of people living near the plants, setting up a potential conflict with companies over the cost of new regulations... Full Story Canada, Russia Considered Climate ‘Bad Boys’ Among G8 NationsJuly 1 (Bloomberg) -- Canada and Russia, both northern and oil-rich, are making the least progress in cutting carbon- dioxide emissions among the major economies, a new study shows... Full Story CFTC Looking at All Options for Fair Markets, Gensler SaysJuly 1 (Bloomberg) -- The Commodity Futures Trading Commission will use all of its regulatory power to ensure fair operations of futures markets for oil, agriculture, currencies and interest rates, the agency’s chairman said... Full Story Italian Train With LPG Explodes, Killing at Least 15June 30 (Bloomberg) -- At least 15 people were killed and 35 were seriously injured when five freight train containers carrying liquefied petroleum gas exploded at a railway station in central Italy... Full Story A Short Week That Is Long On DataNEW YORK (Dow Jones)--U.S. financial markets will be closed on Friday, July 3, in observance of Independence Day, but the shortened trading week will be chockfull of economic data covering labor, manufacturing, consumers and housing... Full Story FinancialOIL FUTURES: Crude Slides Below $67 On Payroll DataNEW YORK (Dow Jones)--Crude futures accelerated their decline Thursday, after U.S. payrolls fell more than expected last month, shaking confidence in an economic recovery by the world's largest energy user... Full Story US GAS: Futures Slide On Mild Weather Ahead Of HolidayNEW YORK (Dow Jones)--Natural gas futures slid Thursday as traders sold contracts ahead of Independence Day weekend, looking ahead to forecasts of mild weather in some of the major gas-consuming regions of the U.S. over the next two weeks... Full Story Natural Gas Falls Most in Four Weeks as Demand Slow to RecoverJuly 2 (Bloomberg) -- Natural gas futures fell the most in four weeks in New York on expectations that demand will be sluggish in the second half of the year as the U.S. economy attempts to move out of a recession that began 18 months ago... Full Story Oil Falls to 1-Month Low, Gasoline Drops as U.S. Payrolls SlipJuly 2 (Bloomberg) -- Crude oil fell to a one-month low and gasoline tumbled on a report showing the U.S. unemployment rate rose last month, a signal that fuel demand in the world’s largest energy-consuming country will be slow to rebound... Full Story OIL FUTURES: Oil Slides On Payrolls DataNEW YORK (Dow Jones)--Crude futures fell Thursday after the U.S. reported payrolls fell last month, souring the outlook for oil demand in the world's largest consumer... Full Story US GAS: Futures Pare Some Losses On EIA Storage DataNEW YORK (Dow Jones)--Natural gas futures pared some losses Thursday after the U.S. Energy Information Administration reported a build in storage that was slightly below analysts' and traders' expectations... Full Story ReleasesPVM Loses About $10 Million in Unauthorized Oil TradeJuly 2 (Bloomberg) -- PVM Oil Futures Ltd., a unit of the world’s biggest broker of over-the-counter oil derivatives, said it lost just under $10 million because of unauthorized trading on June 30... Full Story Exelon Lifts Hostile Bid for NRG 12% to $7.45 BillionJuly 2 (Bloomberg) -- Exelon Corp., the largest U.S. utility owner by market value, raised its hostile takeover bid for NRG Energy Inc. 12 percent to $7.45 billion after a drop in its share price whittled away the premium it was offering... Full Story Praxair Acquires Sermatech InternationalINDIANAPOLIS--(BUSINESS WIRE)--Praxair Surface Technologies, Inc., a subsidiary of Praxair, Inc. (NYSE:PX), has acquired Sermatech International Holdings Corp. from Arsenal Capital Partners, a New-York-based private equity firm... Full Story Exelon to hold conference call on NRG deal ThursdayNEW YORK, July 1 (Reuters) - Exelon Corp (EXC.N) said it plans to hold a conference call on Thursday morning to discuss its hostile takeover bid for independent power producer NRG Energy Inc. (NRG... Full Story Public Service Receives Approval for $190 Million InvestmentJuly 1 (Bloomberg) -- Public Service Electric & Gas Co., New Jersey’s largest utility, received state approval to spend $190 million on an energy-efficiency stimulus program to promote conservation and create jobs... Full Story Saudi Aramco's Clean Diesel Project To Start In OctoberDUBAI (Zawya Dow Jones)--Saudi Arabian Oil Co., or Aramco, said Wednesday it will start producing clean diesel from its joint venture refinery with Royal Dutch Shell PLC (RDSA) at Jubail on the Persian Gulf in October... Full Story |
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