U.S. crude oil rises more than 1%, tops $81 per barrel as rally continues [MSNBC.com]
Mizuho Financial Group, Inc. Sponosred ADR (Japan) (MFG)
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Source: MSNBC.com
U.S. crude oil rose more than 1% on Tuesday to top $81 per barrel, booking a second day of strong gains as this week's rally continued. futures gained more than 2% on Monday, continuing last week's advance despite mixed economic data out of China, the world's largest importer of crude oil.Here are Tuesday's energy prices:Oil rallied yesterday as retail sales for May in China topped economist forecasts, while industrial output and fixed asset investment disappointed. In a note to clients, Bob Yawger, executive director of energy futures at Mizuho Securities, cautioned that the rally in energy prices may largely be speculators covering short positions."It is axiomatic that if China is infected with an economic virus, the whole [world] would feel the repercussions. Yesterday was the exception that proved the rule," Tamas Varga, an analyst with oil broker PVM, wrote in a note Tuesday.Oil prices had recently declined partly because of a decision by OPEC+ members to start rolling barrels ba
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- 7/31/24 - Form 6-K
- MFG's page on the SEC website