Oil rises near $44 and Farmer-Owned Tobacco Company Wins International Award.
Oil rose slightly on Thursday toward $44 a barrel, supported by wintry weather in the northern hemisphere, OPEC supply curbs and a rally in European equities.
The rally comes before U.S. data due out at 10:30 a.m. ESt are expected to show a further rise in crude inventories, the fourth consecutive weekly increase, and higher stockpiles of gasoline.
Tony Machacek, broker at Bache Commodities in London, said the market was being supported by factors including stronger demand for heating fuel and a rally on European and U.S. stock markets."Stock markets look less shaky than at the beginning of the week," he said.U.S. crude rose 13 cents to $43.68 at 1250 GMT. On Wednesday the contract jumped $2.71 to its highest closing price since January 6.U.S. Flue-Cured Tobacco Growers Inc. today announced that the company has been honored in the tobacco industry's 2008 Golden Leaf Awards. The Timberlake manufacturer owned by a cooperative of southeastern tobacco farmers won in the category of Most Promising Product Introduction for its 1839 (R) brand Cigarettes, which launched in 2007. The Golden Leaf Awards is an international tobacco industry honor hosted by Tobacco Reporter magazine and sponsored by BMJ. Winners for the third annual awards were announced in an October 16 ceremony at the 2008 Global Tobacco Networking Forum in Rio de Janeiro, Brazil. Each winner received a trophy and a $1,000 donation to a charity of their choice. U.S. Flue-Cured Tobacco Growers has designated St.Energy Transfer Partners, L.P. (NYSE: ETP) today announced that it has priced a public offering of 6,000,000 common units representing limited partner interests at $34.05 per common unit. Net proceeds from the offering, as well as the related capital contribution from ETP's general partner to maintain its 2% general partner interest, will be used by ETP to repay approximately $200 million outstanding under its revolving credit facility. ETP expects to use some of the increased availability under the revolving credit facility to finance capital expenditures and other growth projects. The offering is scheduled to close January 27, 2009. ETP also granted the underwriters a 30-day option to purchase up to an aggregate of 900,000 additional common units.Credit Suisse Securities (USA) LLC, Citi, Morgan Stanley & Co.Reportlinker.com announces that a new market research report related to the Energy industry is available in its catalogue. Why a Gas Troika and Cartel Will Prove to be Hot Air
http://www.reportlinker.com/p099600/Why-a-Gas-Troika-and-Cartel-Will-Prove-to-be-Hot-Air.htmlIntroductionDespite fears that the world is about to see the formation of a Gas OPEC spearheaded by a 'troika' of Russia, Iran and Qatar, in reality, any process of cartelization remains a highly unlikely process due to structural impediments and geopolitical divides between producer states.