Crude oil puts rose when futures weakened as the U.S. government shutdown continued and the International Energy Agency projected higher North American oil output while trimming its forecast for 2014 global demand.
Texas lawmakers are joining the push to curb municipal bonds that push off debt payments for as long as 40 years on loans for public schools built to handle surging enrollment.
Ethanol weakened to a three-week low against gasoline on concern that unrest in the Middle East will disrupt crude supply.
Ethanol futures fell a second day in Chicago amid unease about Europe’s economic recovery and as U.S. production of the biofuel rebounded from a two-year low.
Ethanol’s discount against gasoline tightened to the smallest in more than four months on concern that slower corn planting will boost the cost of producing the biofuel.
Ethanol futures rose the most this month after corn costs increased for U.S. producers.
Ethanol weakened against gasoline with production recovering from last year’s drought.
Ethanol advanced versus gasoline as cool, wet weather in the Midwest threatened to reduce corn yields and push up costs to make the biofuel.
Ethanol fell to a three-month low on mounting concern that a global economic slowdown will reduce demand for the biofuel.
Ethanol futures rose to the highest level in almost four weeks in Chicago as a heat wave in the U.S. raised corn costs for producers.
"Putin's actions are getting more provocative."
- Dan Flynn on Mar 21, 2014
Flynn Discusses Oil and Energy Markets