Oil fell below $34
Oil fell below $34 on Friday to its lowest level in almost five years as the global economic slowdown overshadowed OPEC’s record supply cuts. For full story, click here
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Brazil plans to invest $400 bn to develop offshore oil fields
Brazil plans to invest some $400 bn in coming 10 years to develop new offshore fields that may contain as much as 80 billion barrels of oil. For full story, click here
Benchmark: July 31
Less mixed has been the effects of the long oil trading boom on the New York Mercantile Exchange itself. NYMEX Holding Inc (NYSE:NMX) has more than doubled its quarterly profit since last year. The market is in the process of being acquired by CME Group Inc (NASDAQ:CME).
