"Crude Oil Rises as Dollar Drops Against Euro, Equities Gain"
Crude oil rose as the dollar fell to a four month low against the euro and the U.S. stocks increased for the first time in four days. Oil rose as much as 1.5 percent in New York after the dollar dipped against major currencies on speculation the U.S. may lose its AAA credit rating. Equities gained as unexpected profit at Sears Holdings Corp. overshadowed concern the government faces higher interest rates to finance the rescue of the financial industry......Complete Story
USO & Crude Oil On The Move Click Here
"Oil Market Turns to OPEC Advantage, But Pitfalls Abound"
Global oil markets have turned in OPEC's favor after months of drilling a hole in the cartel's coffers, but internal wrangling in the producer group could still cap recent oil price gains. The Organization of Petroleum Exporting Countries' deep production cuts over the past five months are beginning to whittle down a mountain of excess supply. World crude demand appears to be stabilizing and will get a top up with the start of the.....Complete Story
Is the Dollar in Trouble? Click Here
"Venezuela Oil Keeps Luring Bidders in Bets Chavez Isn’t Forever"
Chevron Corp. and Total SA are pursuing new Venezuelan oil projects after President Hugo Chavez tore up past agreements, seized assets of contractors and expelled producers that wouldn’t accept new terms. The strategy, producers and analysts say, is to tap crude reserves that Chavez touts as the world’s largest. Decisions to push ahead under a regime whose leader vows to “bury capitalism” are bets that the companies can buy enough time to outlast Chavez, said Peter Zeihan, a vice president at Stratfor, a geopolitical.....Complete Story
