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.
The parent of Investar Bank says its second-quarter earnings fell to $1.1 million or 26 cents a share from $1.7 million of 44 cents a share in the same period a year ago.
1,554 rigs were exploring for oil and 315 for gas. Two were listed as miscellaneous. A year ago there were 1,770 active rigs.
Most personal auto insurance policies exclude coverage when people charge money to drive others in their personal vehicles.
Louisiana's 21 casinos took in $203.5 million statewide in June, edging up one-half of a percentage point from a year earlier.
Business First Bank has announced plans for a Baton Rouge market expansion through a merger deal with American Gateway Financial Corp.
Mellow Mushroom Pizza Bakers opens on Johnston.
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It would be an understatement to say Schumacher Group had a challenging year in 2013.
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The Heymann Center was transformed into a culinary adventure in mid-June for the EatLafayette kick-off event, A Taste of Lafayette, and for the third consecutive year, a sellout crowd filled the Cajundome Convention Center June 19 to hear LEDA chief Gregg Gothreaux’s State of the Economy report.
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The company currently has 10 branches throughout Louisiana, including an Ambassador Caffery location which opened last year.
Lawmakers have added $15 million to the attorney general's budget to pay for Louisiana's ongoing legal case against BP for damages caused by the 2010 Gulf oil spill.
The state's jobless rate rose to 5 percent in June from 4.9 percent in May. Louisiana's unemployment rate was 6.4 percent in June 2013.
Long-established private club opening special events venue in failed women’s store at Kaliste Saloom Road and Camellia Boulevard.