Oil is rising in early morning trade, lifted by a rebound in
equities across the globe and a rise in the dollar's value.
As for gold, it continues to reach record highs as longer-term
worries about economic risks keep up investors' appetites for safe
At 0750 ET, Brent crude is up 0.9% at $79.22 a barrel, while
light sweet crude is up 0.6% at $75.04 a barrel, and natural gas is
up 0.5% at $4.08 a million British thermal units.
Gold is up 0.7% at $1,282.20 an ounce, while silver is up 0.7%
at $20.91 an ounce, and copper is up 1.3% at $3.54 an ounce.
BP plc (
) is expected to close off its ruptured well in the Gulf of Mexico
this weekend by cementing the space between the pipe and walls.
BHP Billiton Ltd (
) said petroleum output will likely be flat for the first time in
four years due to the offshore drilling ban in the Gulf of Mexico
following the BP disaster.
Tesoro Corp (
) said its refinery in Anacortes, Washington, should be back in
operation by mid-October. The refinery was closed April 2 following
an explosion which led to seven deaths.
Rosneft OAO (ROSN) is discussing the possibility of doing
projects in Iraq, according to the Russian energy giant's head
Massey Energy Co (
) is down as it expects an operating loss for the third quarter and
sees operating results for the fiscal year to be at the low end of
In the mining sector, Ivanhoe Mines Ltd (
) has appointed two Rio Tinto Ltd (
) executives, Michael Gordon and Dan Westbrook, to its board of
directors. Rio Tinto holds a 34.9% stake in the Canadian group, and
has the option to increase its stake to 46.65%.