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Oil near six-month high as outages support

By Alex Lawler LONDON (Reuters) – Oil traded at around $49 a barrel on Tuesday within sight of a six-month high, supported by supply outages in Nigeria, Canada and other producers that are eroding a persistent glut. “Globally, there are still a lot of supply disruptions and this comes on top of natural declines,” said Olivier Jakob, oil analyst at Petromatrix. “It does bring forward the expected rebalancing in the second half.” Beside unplanned outages, supply from…

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Oil near six-month high as outages support

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Home Depot raises forecasts after strong start to the year

“After last week's dismal set of retail trading updates, Home Depot provides some much needed relief and also an indication of where consumers are spending their money,” Håkon Helgesen, an analyst at research firm Conlumino, said in a note. Home Depot said its strong start to the year was helped by “week-to-week demand spikes caused by weather variability

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Home Depot raises forecasts after strong start to the year