Source Pravda.Ru

Oil Rises as Dollar Weakens

Oil rose for the first time in six days as the dollar weakened and advancing equities reaffirmed confidence the global recovery will stimulate fuel demand. Crude reversed earlier losses of as much as 1.5 percent as European equity indexes climbed the most in a month.

The industry-funded American Petroleum Institute will release its report on fuel supply and demand levels tomorrow, a day later than normal because of yesterday’s Independence Day holiday, BusinessWeek says.

According to The Associated Press, oil prices rose to near $73 a barrel Tuesday in Asia, joining gains in stock markets and the euro. Benchmark crude for August delivery was up 42 cents to $72.55 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange.

The contract last settled on Friday, losing 81 cents to $72.14. U.S. markets were closed Monday for the Fourth of July holiday. Stocks markets in Europe and Asia rose Tuesday while the euro advanced to $1.2594 from $1.2537.

Several years ago, a prominent Indonesian businessman who now resides in Canada, insisted on meeting me in a back room of one of Jakarta's posh restaurants. An avid reader of mine, he 'had something urgent to tell me', after finding out that our paths were going to be crossing in this destroyed and hopelessly polluted Indonesian capital.

Capitalism reduced Indonesian cities to infested carcases

Presidential candidate Ksenia Sobchak, who was accredited for the press conference by Vladimir Putin from Dozhd (Rain) television channel, asked Putin about competition at the coming election

Putin to Sobchak: We will never let them turn Russia into another Ukraine
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