"Crude Oil Falls, Following Stocks Lower, as Dollar Strengthens"
Crude oil fell for a second day, following global equities, as a stronger dollar reduced the appeal of commodities as an alternative investment. Prices declined as much as 2.4 percent after stocks fell and the U.S. currency gained against the euro for a second day. The stronger currency undermines demand for dollar priced assets such as oil and gold. Oil futures touched a seven-month high of $70.32 on June 5 after a Labor Department report.....Complete Story
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"Brazil to Propose New Tax on Newfound Offshore Oil"
The Brazilian government will propose an additional tax on crude oil produced from the country's newfound offshore deposits, the O Estado de S. Paulo newspaper reported Monday. The tax will be part of a new regulatory regime proposed by a government panel studying possible changes to Brazil's oil laws, the report said. The proposals are expected.....Complete Story
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"Natural Gas Cheapest to Oil Since 1992 Signals Gain"
This year’s 31 percent decline in natural gas made it the worst performing commodity and the cheapest next to oil since the fall of the Soviet Union. That’s about to change, if history is any guide. Natural gas lost 72 percent in 11 months as the U.S. fell into the deepest recession in 50 years and drillers failed to idle rigs fast enough to control inventories. Stockpiles are 22 percent larger than the five year average.....Complete Story
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