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Today - Thursday, February 23, 2012
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7:15 AM More on oil: The correlation between oil prices and equities is melting away, notes Scott Barber. Since the financial crisis, the oil price has been demand driven - with crude moving higher along with stocks. Of late, price moves are more to do with supply worries which could presage something less than positive for the equity markets. 1 Comment
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7:09 AM Crude oil hits more multi-month highs, with the U.S. benchmark WTI at $106.36, a price not seen since May. The world benchmark, Brent crude touches $124 - priced in euros, Brent has taken out its epic 2008 high. 2 Comments
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6:52 AM Though a judge in Houston rules that BP and Anadarko Petroleum (APC) are liable for civil damages from the Deepwater Horizon oil spill, Transocean's (RIG) liability is still up in the air after it wasn't named a "responsible party" in the decision. Premarket: BP -0.2%, APC +0.1%, RIG +6.7%. Comment!
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5:52 AM Anadarko Petroleum (APC) and BP (BP) are liable for civil damages related to the Gulf oil Spill, District Judge Carl Barbier ruled yesterday, exposing the two firms to billions in potential fines. The government will now pursue civil penalties in a trial set to begin Monday. Comment!
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Wednesday, February 22, 2012
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6:42 PM Tesla (TSLA -0.8%) shares were off sharply for a while today following a report noting the potential for Roadster batteries to die out (thereby requiring a replacement at a cost of $40K) should they not be charged for a few months, and thus discharge completely. However, shares rebounded after Tesla made an effort to address the issue (albeit without fully denying the problem exists). 2 Comments
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