Billboard Music Awards 2012Carly Rae Jepsen
Billboard Music Awards 2012Miley Cyrus
Billboard Music Awards 2012Mike Fisher and Carrie Underwood
Billboard Music Awards 2012Jordin Sparks
Billboard Music Awards 2012The Wanted
Billboard Music Awards 2012Julie Bowen
Billboard Music Awards 2012Justin Bieber
Oil hits 7-month high as U.S. jobs data raises hopes
Oil prices rose more than 5 percent to a seven-month high above $69 a barrel on Thursday after U.S. data showed a drop in jobless claims, boosting expectations of an economic recovery that could revive ailing energy demand.
U.S. investment bank Goldman Sachs said an economic rebound, alongside production cuts by the OPEC cartel, could propel crude to $85 a barrel by the end of the year and to $95 a barrel by the end of 2010.
For the better or for the worse, a switch in the Goldman price forecast rarely does not have a price influence, and we will need to take it as a market input for the next few days, Petromatrix analyst Olivier Jakob said.
U.S. crude for July delivery rose $3.48 to $69.60 a barrel by 1:30 p.m. EDT, the highest since early November. London Brent gained $3.35 to $69.23.
The number of U.S. workers filing new claims for jobless benefits fell for a third straight week, government data showed on Thursday, indicating some loss of force in the pace of the job market's deterioration.
As has been the case lately, constructive economic data has been used as an indicator that the economy will improve and that oil demand will follow, said Peter Beutel, president of trading consultants Cameron Hanover in New Canaan, Connecticut.
But fundamentals at this point do not justify the current prices for crude futures, he added.
Oil closed more than $2 a barrel lower on Wednesday, after the U.S. Energy Information Administration reported U.S. crude inventories rose 2.9 million barrels; analysts polled by Reuters had expected a decline of 1.4 million barrels.
Inventories of crude oil have swelled since the start of the economic crisis last autumn as global energy demand dipped for the first time in a quarter century.
Aside from brimming onshore storage levels, some 100 million barrels of crude oil have been stowed away on vessels at sea, French oil major Total's
Concerns over weak demand and rising inventories have led producer group OPEC to agree to 4.2 million barrels per day worth of crude oil output cuts since September.
Saudi Oil Minister Ali al-Naimi has said OPEC would wait until crude inventories fall to around 53 days of forward cover -- nearly 10 days below current levels -- before considering raising output again. (Additional reporting by Matthew Robinson in New York and Joe Brock in London; Editing by David Gregorio)
Billboard Music Awards 2012Sky Blu and Redfoo of LMFAO
Billboard Music Awards 2012Brandy
Billboard Music Awards 2012Far East Movement
Billboard Music Awards 2012Chester Bennington of Linkin Park and wife Talinda
Billboard Music Awards 2012Singer Miguel
Billboard Music Awards 2012Gavin DeGraw
Billboard Music Awards 2012Nelly Furtado
Billboard Music Awards 2012Tommy Hilfiger and wife Dee
Billboard Music Awards 2012Michael Lockwood and Lisa Marie Presley
Celebrities touched down in Sin City on Sunday night for the 2012 Billboard Music Awards. This year's show is set to be both celebratory and commemoratory. Tributes have been planned for fallen musical legends Whitney Houston, Donna Summer and Adam MCA Yauch.
I was at the Grammys, and what a curveball they were thrown when Whitney passed away [the day before the show], Billboard Music Awards co-executive producer Richard Beckman told Billboard.com. They did a good job with Jennifer Hudson, but obviously we had a bit more time, so we wanted to do something honoring such a remarkable performer.
Whitney Houston's commemoration will be undertaken by John Legend and Jordin Sparks. Sparks will take on Houston's biggest hit, I Will Always Love You.
Soundcheck helped ease the nerves a bit! So excited for tonight! Now starting glam for red carpet! Sparks tweeted to her fans on Sunday from the MGM Grand Garden Arena in Las Vegas. Sparks looked svelte and smiley on the red carpet in a cream, lace dress and strappy heels.
Presenters at the 2012 Billboard Music Awards, airing Sunday on ABC at 8 p.m. EST, include Charlie Sheen, Miley Cyrus, Gladys Knight, Julianne Hough and Wiz Khalifa. The nominations list is jam-packed with all of today's top stars in the music business, including Justin Bieber, Adele and LMFAO. Adele leads the pack with 18 nominations.
Newcomer Carly Rae Jepsen is one of the most-anticipated performers of the night, making her debut on the Billboard Music Awards stage.
I saw the rehearsal yesterday with Carly Rae Jepsen, Beckman told Billboard. When we booked her no one really knew her name, and now 'Call Me Maybe' is No. 4 on [the Billboard Hot 100] and No. 1 on iTunes, and her performance is terrific, really energetic.
Jepsen tweeted a photo to fans before the show of her primping for her big night. She thanked hairstylists Harry Josh and John Freida. Later, Jepsen tweeted, Sound check was so fun! Can't wait to play now. #BBMA let's start the show already, before hitting the red carpet.
Check out the celebrity arrivals on the red carpet at the 2012 Billboard Music Awards.