Italian Prime Minister Silvio Berlusconi met Muammar Gaddafi on Monday looking to reinforce business ties, after the Libyan leader aroused a media storm by suggesting to a group of young women they convert to Islam.
Hewlett-Packard Co's top lawyer, Mike Holston, came to the company on the wings of a board spying scandal in 2006. He is now at the center of another storm, this time surrounding the ouster of his friend, Chief Executive Mark Hurd.
Oil prices were steady near $79 a barrel as the fading Tropical Depression Bonnie brought more output back online in the Gulf of Mexico, dampening otherwise buoyant sentiment following positive U.S. macroeconomic data.
Oil prices seesawed near unchanged levels on Monday as stronger-than-expected U.S. home sales data lifted prices even as energy companies restarted production after Tropical Storm Bonnie fizzled.
U.S. crude for September delivery slipped 12 cents to $78.86 a barrel by 12:49 p.m. EDT, having seesawed between $78.06 and $79.33.
Oil prices slipped back from an 11-week high above $79 on Friday, falling on uncertainty over European bank stress test results even as companies began shutting in Gulf of Mexico production ahead of a tropical storm.
The dollar's strength against the euro and a basket of currencies .DXY also added pressure.
Crude drifted lower after hitting a three-month high near $80 on Friday, supported by a storm threat to U.S. Gulf oil installations but pressured by uncertainty over the result of bank stress tests in Europe.
By 0943 GMT (5:43 a.m. EDT), U.S. crude for September was trading 26 cents lower at $79.04 a barrel. ICE Brent crude futures were 28 cents down at $77.54.
Oil held steady near $77.50 on Wednesday, as rising stock markets and a forming Atlantic storm countered mixed U.S. inventories and disappointing housing data.
U.S. crude for September, the front month-contract after Tuesday's expiry of August, shed 10 cents to $77.48 a barrel at 12:06 a.m. ET. ICE Brent fell 14 cents to $76.08.
The head of oil major Total warned of tougher safety rules that could push up crude prices as the first storm of the Atlantic hurricane season compounded the impact of the Gulf of Mexico oil spill.
Enbridge said on Monday that it declared force majeure on its offshore Nautilus natural gas pipeline system after some Gulf of Mexico producers shut in supply as a precaution against Tropical Storm Alex.
Oil touched its highest price in almost eight weeks on Monday, trading near $79 as tropical storm Alex forced Mexico to slow oil exports and some offshore U.S. producers to evacuate platforms and curb output.
Japan's Nikkei average fell 0.45 percent on Monday, with the dollar little changed against a basket of currencies, despite an upbeat sign for the macroeconomic outlook on Friday from U.S. consumer sentiment, which rose in June to its highest since January 2008.
Gluey gobs of thick oil from BP Plc's Gulf of Mexico spill washed ashore in Mississippi for the first time on Sunday as Russia called for a special levy on oil companies to finance a fund to help clean up environmental disasters like this one.
Gluey gobs of thick oil from BP Plc's Gulf of Mexico spill washed ashore in Mississippi for the first time on Sunday as Russia called for a special levy on oil companies to finance a fund to help clean up environmental disasters like this one.
The Atlantic hurricane season's first named storm posed an uncertain threat to the Gulf of Mexico on Sunday, as a report said relief wells may halt the worst U.S. oil spill ahead of schedule.
The first named storm of the Atlantic hurricane season is posing an uncertain threat to the Gulf of Mexico, even as efforts to contain the worst oil spill in U.S. history are set to ramp up.
The first named storm of the Atlantic hurricane season was on track on Saturday to reach the Gulf of Mexico within days, a potential threat to containment and cleanup of the worst ever U.S. oil spill.
The first named storm of the Atlantic hurricane season was on track on Saturday to reach the Gulf of Mexico within days, a potential threat to containment and cleanup of the worst ever U.S. oil spill.
The first named storm of the Atlantic hurricane season threatened on Saturday to veer toward the Gulf of Mexico within days, posing a new threat to containment and cleanup of the worst U.S. oil spill in history.
With a storm threatening to disrupt oil-siphoning efforts at BP Plc's blown-out Gulf of Mexico well, the U.S. Coast Guard on Friday said collection efforts would be suspended five days before the forecast onset of gale-force winds.
Oil rose on Friday due to concerns that a storm in the Caribbean may move toward the Gulf of Mexico, where oil facilities are clustered and BP continues to fight an oil spill.
Oil slipped on Friday, heading for a weekly drop of 1.3 percent, as falling equity markets tempered an early boost from indications that the first storm of the Atlantic hurricane season might be developing.
Asian stocks slid on Friday for a fourth straight session, driven by expectations of tighter financial regulation and uncertainty about the global economic recovery ahead of the weekend G20 meeting. Concerns about the Greek debt crisis had also sent Wall Street lower on Thursday.
The European Central Bank faces a grilling over the euro zone's debt crisis on Thursday after a torrid month in which it has abandoned resistance to buying government debt and flung its exit strategy into reverse.
Good morning dear traders, .... there is not much to report of yesterday´s trading day as there have been only little trading chances due to very low volatility in the markets.
