Energy prices to rise: EIA
Crude oil prices are forecasted to increase to an average of nearly $70 per barrel in 2009 compared to their current prices, according to a July short-term energy outlook report from the Energy Information Administration. Last year, oil was priced at an average of $99.57 per barrel in 2008. The EIA expects gasoline prices will average $2.36 per gallon this year.
Largest natural gas fund suspends issuance of shares
The United States Natural Gas Fund suspended issuance of new shares on Tuesday afternoon because it ran out of them and will restart until it receives permission to register 1 billion new shares. It is the largest exchange-traded fund in the fuel.
World leaders clash with India and China on goal to cut greenhouse gas emissions
Leaders from the members of the Major Economies Forum held in La Maddalena, Italy, tried to persuade China and India today to agree to a common goal to cut greenhouse gas emissions - linked to climate change - by 2050 but the nations have opposed the idea.