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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jun 25, 2013
Page
17
Oil markets closed with light crude priced at 95.02 per barrel as traders weighed supply data and demand signals. Analysts noted modest gains amid expectations of steady energy demand and ongoing production adjustments by producers.
Washington faces a heated clash as the E15 fuel, containing 15 percent ethanol, prompts worries it could harm older cars and motorcycles while supporters tout lower costs and consumer choice. The Supreme Court preserved lower court rulings favoring continued sales, with industry groups and automakers pledging more testing and guidance.
Global markets skidded as China's Shanghai Composite plunged five percent amid fears over growth and off balance sheet lending. U.S. indexes fell with the Dow down 139.84 points and the S&P 500 slipping 1.2 percent, while Treasury yields climbed to the highest in years. Banks led losses and metals gold moved lower as investors fretted about Fed policy and bond purchases.
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