Inside these posts: Oil

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Embattled BP CEO removed from spill oversight

BP removed Chief Executive Tony Hayward from day-to-day oversight of the Gulf oil spill crisis a day after he was pummeled by lawmakers in an appearance on Capitol Hill, the company’s chairman said Friday.

Carl-Henric Svanberg told Britain’s Sky News television that Hayward “is now handing over the operations, the daily operations to [BP Managing Director] Bob Dudley,” overshadowing news that after many setbacks BP was finally making real progress in siponing and burning off oil from the underwater gusher. Get the full story »

Oil slips as Wall Street turns negative

Reuters | Oil slipped below $71 a barrel Monday as Wall Street turned negative and a stronger dollar weighed. Crude futures had earlier followed U.S. equities higher, but lower shares of industrial and big manufacturers weighed on the market, helping pull crude down.

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