December 2012
27th December 2012
Housing Data / Fiscal Talks = Oil Rising Today
The price of oil rose sharply on higher U.S. home prices and hopes of a budget deal in Washington.
U.S. benchmark crude jumped $2.06, or 2.3 percent, to $90.67 per barrel in thin post-Christmas trading Wednesday Dec. 26, 2012 afternoon in New York.
U.S. home prices rose in most major cities in October compared with a year ago, according to a key report. The improvement is adding to economic growth, which generally boosts energy consumption and lifts prices. Read more »
6th December 2012
BREAKING NEWS! Big owner of part of Fayeteville buys more into Shales! 9 billion worth!
Mining company Freeport-McMoRan is buying a pair of oil and gas producers for $9 billion, creating a natural resources conglomerate with assets ranging from oil rigs in the Gulf of Mexico to mines in Indonesia.
Freeport-McMoRan, based in Phoenix, is paying $6.9 billion in cash and stock for Plains Exploration & Production Co., and $2.1 billion for McMoRan Exploration Co. Freeport will also assume $11 billion in debt in the deal. Read more »
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