Prices up more than expected in June

Prices rose in June, led by an increase in the price of gasoline and energy, the Labor Department reported on Tuesday. The Consumer Price Index 0.7 percent on a seasonably adjusted basis after rising 0.1 percent in May. A survey of economists by Bloomberg had expected a median rise of 0.6 percent. The core index, exlcuding food and energy prices was up 0.2 percent.

U.S. inventories weekly report

The U.S. Energy Department will release its weekly petroleum supply report at 10:30 a.m. EST. Analysts expect gasoline stockpiles rose 875,000 barrels and distillate fuel supplies jumped 2 million barrels in the week ended July 10, according to a Bloomberg survey.

U.S. Officials visit China to highlight clean energy

U.S. Energy Secretary Steven Chu and Commerce Secretary Gary Locke arrive to China to stay through July 17 to highlight the potential for mutually beneficial relationships in the clean energy sector, as well as promoting energy efficiency and curb pollution.

20th World Oil Forum 2009

The 20th World Oil Forum 2009 ends in London, UK where world oil and gas executives met to focus on critical matters of the industry such as shifting geopolitics in energy, strategy, commercial and business development issues which may impact projects in Africa, Asia, Latin America , Middle East and Russia.