Oil Extends Decline as Inventories Reach Most Since 1990 – Bloomberg 06-20-12

Salient to Investors: U.S. crude stockpiles rose to highest level since July 1990. Predictions: Todd Horwitz at Adam Mesh Trading Group sees below $80 in the next two weeks. Fifty-eight percent of economists polled expect the Fed to expand Operation Twist. Read the full article at http://www.bloomberg.com/news/2012-06-20/oil-declines-before-fed-decision-projected-supply-drop.html

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Petrobras Worst Big Oil Bet on Deepwater Disappointments – Bloomberg 06-15-12

Salient to Investors: Brazil holds the world’s biggest oil discoveries since Kazakhstan found the Kashagan field in 2000. Brazil has at least 50 billion barrels of recoverable reserves in an area the size of Florida in deep waters off the coast of Brazil. Read the full article at http://www.bloomberg.com/news/2012-06-15/petrobras-worst-big-oil-bet-on-deepwater-disappointments.html

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Venezuela Overtakes Saudis to Hold World’s Biggest Oil Reserves – Bloomberg 06-13-12

BP data show that at the end of 2011, Venezuela had proven oil reserves of 296.5 billion barrels, Saudi Arabia 265.4 billion barrels, Canada 175.2 billion barrels, Russia 88.2 billion barrels, Norway 6.9 billion barrels. Read the full article at http://www.bloomberg.com/news/2012-06-13/venezuela-overtakes-saudis-for-largest-oil-reserves-bp-says-1-.html

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Oil Heads for Longest Run of Weekly Losses in More Than 13 Years – Bloomberg 06-08-12

Predictions: Jefferies Bache broker Christopher Bellew said we are seeing the effects of a decade of financial imprudence in Europe and the size of the re-structuring needed, so expect significantly lower oil prices short-term. Read the full article at http://www.bloomberg.com/news/2012-06-08/oil-heads-for-longest-run-of-weekly-losses-in-more-than-13-years.html

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Oil Heads for Longest Weekly Losing Streak Since 1998 – Bloomberg 06-08-12

Salient to Investors: Heading for the longest run of weekly losses in more than 13 years on concern economic slowdowns in U.S. and Europe. Iitrader.com sees no growth in oil demand, and Germany, the linchpin of the euro zone,is slowing and will add more negative news Read the full article at http://www.bloomberg.com/news/2012-06-08/oil-heads-for-longest-weekly-losing-streak-since-1998.html

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