Explorer Oil Products Pipeline Was Shut Down on June 14 by Leak in Texas

(Bloomberg) -- Explorer Pipeline Co. shut down its
Houston-to-Chicago petroleum product pipeline July 14 because of
a jet fuel leak, a company official said.

The line, which carries gasoline, diesel and jet fuel, is
expected to return to operation by 8:00 a.m. tomorrow, Rod
Woodford, Explorer's manager of shipper relations, said in a
telephone interview. The leak happened in a 28-inch section of
the line located about 70 miles north of Houston, Woodford said.


Read more at Bloomberg Energy News

Oil Is Steady After Nearing a Record in London on Reduced North Sea Output

(Bloomberg) -- Crude oil was little changed after
approaching a record in London, as a damaged pipeline in the
North Sea curtailed production.

Chevron Corp. and ConocoPhillips cut North Sea output last
week because BP Plc shut an undersea pipeline. Hedge-fund
managers and other speculators increased their net-long position
in New York oil futures, bets on rising prices, to the highest
in at least 13 years, according to U.S. Commodity Futures
Trading Commission data.


Read more at Bloomberg Energy News

US STOCKS-Indexes little changed; Verizon up on M&A talk

(Reuters) - NEW YORK, July 16 - U.S. stocks were little
changed on Monday as investors paused after Friday's record
highs to weigh the latest speculation on the mergers and
acquisition front.




Shares of Verizon Communications were the top gainer
on the Dow after a Financial Times Web site said on Monday
Vodafone Group was considering a $160 billion takeover
bid for the U.S. wireless operator. Vodafone denied the report,
but Verizon shares still rose 2.5 percent to $42.81.


Read more at Reuters.com Bonds News

GM's $1,000 Per Silverado Health-Care Tab Gives Advantage to Toyota Tundra

(Bloomberg) -- The $40,000 blue Chevy Silverado
pickup that Justin Crenshaw bought last month in Oklahoma City
had one built-in feature that Kent Hickman's new Toyota Tundra
lacked: the health-care tab for retired factory workers.

Paying the retiree health benefits adds about $1,000 to the
cost of each Silverado made by General Motors Corp. Toyota Motor
Corp., which will overtake GM this year as the world's largest
automaker and is boosting Tundra sales in the U.S., is spared
almost all such expenses, according to auto industry analysts.


Read more at Bloomberg Exclusive News

OPEC sees modest 2008 demand, lower need for its oil

(Reuters) - The assessment, in OPEC's July Monthly Oil Market Report, underscores OPEC's view that crude supply is enough and oil prices near a record high reflect a strain on refineries and other factors beyond its control.




"The outlook for the oil market in 2008 is shaping up to be quite similar to the current year, with continued tightness in the downstream supporting high product prices and frequent refinery outages exerting further upward pressure, despite the healthy crude oil market," OPEC's report said.


Read more at Reuters.com Business News

Corn, Soybeans May Fall in Chicago on Wet-Weather Forecast; Wheat May Drop

(Bloomberg) -- Corn may decline and soybeans may
fall from a three-year high on speculation rains will revive U.S.
crops harmed by a prolonged dry spell. Wheat in Chicago also may
decline.

Some fields from Minnesota to Ohio may get as much as
3 inches (7.6 centimeters) of rain in the next five days, while
the driest parts of Nebraska, South Dakota and Iowa may receive
up to 1 inch beginning on July 18, said John Dee, president of
Global Weather Monitoring in Mohawk, Michigan.


Read more at Bloomberg Commodities News

U.S. Stocks Decline as Oil Rises; SanDisk, Dow Jones & Co. Shares Retreat

(Bloomberg) -- U.S. stocks fell after oil rose
above $74 a barrel, spurring concern higher fuel prices may
hamper consumer spending and corporate profits.

SanDisk Corp., the world's largest maker of flash-memory
cards, declined after UBS AG downgraded the shares. Dow Jones &
Co. retreated after the Wall Street Journal reported that a
member of the publisher's controlling family is trying to block
its' sale to Rupert Murdoch's News Corp.


Read more at Bloomberg Stocks News