27 Feb '12, 8pm

Petrobras: GLOBAL MARKETS - Oil's slide props up Wall St; dollar rises

NEW YORK (Reuters) - Oil snapped a week-long rally on Monday, helping Wall Street rebound from early losses, and positive U.S. home sales data further soothed investors worried about economic damage from high energy costs. The dollar rose as some of the investment money in oil flowed into currencies after officials from the Group of 20 countries sounded fears that surging energy prices were hurting global economic growth. The greenback rebounded from a near three-month low against the euro. It hit a nine-month peak versus the yen before giving back some gains. U.S. Treasuries climbed on demand for safe-haven government debt. The benchmark 10-year U.S. Treasury note was up 17/32, its yield at 1.9169 percent. High energy costs have been cited as one factor preventing a runaway rally in equities. London's Brent oil is up 15 percent on the year and U.S. crude is up 10 percent ...

Full article: http://sg.finance.yahoo.com/news/GLOBAL-MARKETS-Oil-slide...

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