Oil prices have been a hot-button issue for the past few as turmoil has caused disruptions in the U.S. supply. The U.S. Department of Energy has decided to release 30 million barrels of oil from a strategic reserve in hopes of aiding the U.S. economy. For those worried about the oil supply there is no [...]
Tags: Oil, Oil Reserve
Posted June 22, 2011 by Hanna Silver under Financial News
A top executive at Bank of America Merrill Lynch told the bank’s traders not to enter into oil trades with oil giant BP after June 2011, Reuters reported, citing an anonymous source familiar with the oil markets. Although a reason for the instruction was not provided, there is speculation that it may be a method [...]
Tags: Oil, Oil Trades
Posted June 16, 2010 by Hanna Silver under Financial News
Both Citi and Fannie Mae announced separate foreclosure moratoriums today for homeowners affected by the BP oil spill. Citi said it would suspend foreclosure notifications and sales on CitiMortgage-owned first mortgages in coastal regions of the Gulf of Mexico “hard-hit by the oil spill” for three months. The suspension is effective from June 17 until [...]
Tags: Oil, Payments Oil
Posted June 16, 2010 by Oliver Blake under Financial News