Oil has rebounded after falling to the lowest in more than 12 years amid signs that a global glut will ease as U.S. output declines. Saudi Arabia, the biggest producer in the Organization of Petroleum Exporting Countries, said it will agree to a freeze only if it’s joined by other suppliers including Iran, while Kuwait said a deal can be done without Tehran’s support. West Texas Intermediate for May delivery fell as much as 47 cents to $39.25 a barrel on the New York Mercantile Exchange and was at $39.57 as of 10:52 a.m. London time, erasing an earlier gain of 1.9 percent. Brent for June settlement lost as much as 53 cents, or 1.3 percent, to $41.41 a barrel on the London-based ICE Futures Europe exchange. Prices increased 8.5 percent last week. The global benchmark crude was at a 98-cent premium to WTI for June.
US Dollar to Canadian Dollar = 0.798464; US Dollar to Chinese Yuan = 0.154145; US Dollar to Euro = 1.138608; US Dollar to Japanese Yen = 0.009331; US Dollar to Mexican Peso = 0.058277
According to a survey released today by Adobe (Nasdaq: ADBE), 73 percent of public sector creative professionals believe that creativity is undervalued in government and that government is limiting their creative capabilities. In the ongoing struggle for government to recruit the best talent, the private sector is increasingly more attractive for creative professionals, causing a creativity gap between the public and private sectors. The Creativity in Public Sector Survey assessed the opinions and perspectives of public sector creative employees across a variety of topics, including workplace environment, private sector competition and mobile investment. Conducted by Edelman Intelligence, it polled 175 public sector employees at the local/municipal, state/provincial and federal levels in the U.S. and Canada working in creative communications, design and program management.
The global oil benchmark, Brent crude, fell 2.6% to trade at $44.26 a barrel on London's ICE Futures exchange. This is the first time Brent has traded below $45 a barrel in six years, and it is now trading about 56% lower than its year-high of $103.19 a barrel reached in August last year. On the New York Mercantile Exchange, West Texas Intermediate futures were trading below the key $40 level at $39.12 a barrel, down 3.3%. That is the lowest level in almost six-and-a-half years. The falls in crude followed an 8.5% decline on the Shanghai Composite Index. China is the world's largest consumer of commodities, and second-largest consumer of oil after the U.S.