Sector Update: Energy

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Energy issues are falling pre-market Tuesday, as oil prices fall on worries that the $1 trillion Greek bailout package will not be enough to stabilize the euro zone. That in turn has put a damper on hopes for a steady global economic recovery. Speculation is growing that Peabody Energy ( BTU ) will not complete its bid for Australia's Macarthur Coal ( MCC ) as the Australian government mulls the possibility of imposing a 40% resources profit tax from 2012. Brent crude is down 0.9% at $79.43 a barrel.



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This article appears in: Investing , Commodities

Referenced Stocks: BTU , MCC

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