Oil fell for third day in New York and the fact that the current nuclear crisis, the recovery efforts in Japan and European countries can cut the debt question, overshadowed unrest in Libya and the Middle East to slow down.
TOP Market News
Hedge Funds Boost Gas Bets most in three months: Energy Markets
Hedge funds betting on natural gas used by the most in three months colder than normal weather in the U.S. and expectations for increased demand from Japan stoked speculation that demand for heating fuel will increase. Read more
Oil trades near one-week low on forecast U.S. Stocks Acquired. Oil traded near the lowest in more than one week in Egypt as political tensions eased and rising stocks in the U.S. gesignaleerd fuel demand may be faltering in the world’s biggest crude consumer.
TOP Market News:
Gasoline Supply rises to 21-year high in the survey: Energy Markets. U.S. gasoline inventories probably rose last week to the highest level in nearly 21 years as demand from motorists has declined, a Bloomberg News survey showed. Read more
Hopes fade for 29 men missing in a New Zealand coal mine after delayed hard rock drilling and a robot sent down the shaft to collect sample images and poisonous gases are broken down, rescuers said.
No contact was made with the men aged 17 to 62, since a Nov. 19 explosion at the Pike River Coal Co. me near Greymouth on South of the nation’s Island and listening devices have picked up no trace of tapping, Superintendent of Gary Knowles said the police at a press conference today. “The longer it goes, hope fades,” Knowles told reporters. “We must be realistic.” Read more
Australian Prime Minister Kevin Rudd’s proposal to collect more taxes from mining companies is shaping an election-winning strategy. Just not for him. Rudd’s Labor Party won the opposition Liberal-National Coalition for the first time in four years, according to a Nielsen poll released yesterday. Faced with fierce criticism from BHP Billiton Ltd. and Rio Tinto Group, Rudd invoked powers normally reserved for national emergencies to advertising to buy the charge that he says will help pay for a broader tax cuts and better healthcare to defend. Read more
NEW YORK – Coal Miner Massey Energy Co. (MEE.N) said on Wednesday that the news suggests it is reparing to put up for sale are false. Yet the company continues to have discussions with several entities regarding various asset sales and / or joint venture opportunities, but said in a statement. The comments came seven weeks after 29 miners were slain in an explosion at a Massey-owned mine in West Virginia. Read more
Melkior Resources Inc. has commenced line cutting and ground geophysics on seven gates to cover 9 separate electromagnetic conductors on its 100% subsidiary Eldorado nickel property. The property is adjacent to property Twp Melkior Shaw and consists of 366 claim units or 5856 hectares and is located 20 miles southwest of downtown Timmins. (more…)
The U.S. Congress passed a $ 858,000,000,000 bill extending for two years all the Bush-era tax cuts, sending the measure to President Barack Obama for his signature.
Obama will sign measure into law later today, White House spokesman Robert Gibbs said in an e-mail. Gibbs does not mention a specific time for the bill signing.
Before the House voted 277-148 for final passage on the tax-cut agreement, members defeated an amendment made by some Democrats to their dissatisfaction with the bill to express and especially with a Republican-backed estate-tax proposal. (more…)
Oil rose in New York, capping the biggest weekly gain in seven months, as larger-than-expected U.S. jobs growth eased concerns that the economy slows. Futures rose as the Labor Department said payrolls grew by 103,000 workers in September and 57,000 in August. The median forecast called for a gain of 60,000 in September. Oil climbed 4.8 percent this week, the most since March, when U.S. stocks fell and European central banks announced stimulus plans. (more…)
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