The Wall Street Journal reported Tuesday that crude oil futures are weaker today as worries over Spain’s banking sector and the ongoing euro-zone debt crisis trump optimism over Greece. Greek polls suggesting pro-austerity parties might win elections next month, raising the likelihood the country will stay in the euro common currency, sent prices up just a day ago. The polls were released Sunday.
The WSJ story did note, however, that ongoing concern over Middle East oil supplies is continuing to support prices:
The euro fell along with European equities on weak April retail sales figures from Spain, pressuring oil prices lower. European benchmark Brent tumbled below $107 a barrel after the Spanish figures showed the biggest decline in more than a year as consumers felt the squeeze from higher taxes, a weak economy and government austerity measures.Read the story in the Wall Street Journal here (subscription required).
At 1109 GMT, the front-month July contract trading on the New York Mercantile Exchange was trading up 40 cents, or 0.5%, at $91.29 per barrel. The front-month July Brent contract trading on London’s ICE futures exchange was down 16 cents at $106.95 per barrel.
Worries over Middle Eastern oil supplies, following a lack of progress on Iran nuclear talks, and expectations that U.S. data releases due later will show signs of improvement kept prices supported, but without enough conviction to make a big move higher, analysts said.
It will be next month before Gov. Bobby Jindal will likely get a chance to change the membership of a South Louisiana flood board that is suing dozens of oil, gas and pipeline companies.
Newly established honor recognizes outstanding local attorneys; Neuner and McGoffin win President's Award; and Blanchard named Outstanding Young Lawyer.
Daily paper constructing new digs near production plant on Rieger Road at Siegen Lane, near I-10.
Investigation finds Arnaud’s Furniture, Carroll Building Specialties and Crazy Charlie’s Shoes running misleading going-out-of-business sales.
Critics say workers and retirees are being held responsible for the Jindal administration's mismanagement of their program.
Potenza Marketing makes fastest-growing companies list.
Local 101 class Friday
“Byzantine” is the word members of the nominating committee for the local flood protection authority often use to describe the complicated, multi-layered matrix of qualifications that must be met to fill a vacancy on that board.
In the Pelican State, Benjamin Franklin buys you about $109 worth of stuff.
Brittan Bush joins Liskow & Lewis, Blake David installed as the Third District Member of the Louisiana State Bar Association’s board of governors, and Simien & Miniex announces 2014 scholarship winners.
“In some cases, we’ve found that these parts are nothing more than used junk yard parts. In others, we’ve found them to be foreign knock-off parts of questionable quality.”
The old Daily Advertiser building on Jefferson Street is being rehabbed as the owner prepares to move it back into commerce.
Its fourth leader gone after two years on the job, the facility struggles to balance the tension between its two missions.
Hub City Cycles hits the ground running through small-business center opportunity.
The future of the coastal loss lawsuit could rest in hands of board’s nominating committee.
Leaders from the local tech community ponder the question: What's missing from Acadiana's tech ecosystem?
AT&T’s U-verse heads our way. Here’s what it means for you.
LITE’s virtual environments are changing the way local employees learn how to do their jobs.
Local tech gurus will go the distance to call Lafayette home.
A look at recent hires, promotions and other news from Acadiana's business community.
New Johnston Street eatery catapults to No. 1 spot in nearly 200-location chain.
By identifying companies that match the output of its post-secondary educational institutions, Lafayette is creating opportunities that keep highly trained graduates in the area.
Gideon’s Promise lauds G. Paul Marx’s work to improve the quality of indigent defense and helps train five new public defenders.
What will INNOV8 4.0 look like?
Courtesy Ford is honored; EatLafayette fêtes itself