SINGAPORE: Oil prices fell in Asian trade Thursday after US crude reserves rose higher than expected, indicating demand remained weak in the recession-hit US economy, dealers said.New York's main futures contract, light sweet crude for June delivery, dropped 17 cents to 48.68 dollars a barrel in afternoon trade.Brent North Sea crude for delivery in June eased 31 cents to 49.50 dollars.The US Department of Energy's weekly report, released Wednesday, showed crude the stockpile in the world's biggest energy consumer was at its highest level in almost 20 years."The inventory report coming out of the US is very bearish, showing stock gains across the board for crude oil," said Victor Shum, senior principal at Purvin and Gertz energy consultancy in Singapore.Reserves of gasoline and distilled products, such as diesel and heating fuel, also increased, confounding analyst expectations of declines.
Sunday, February 28, 2010 HAVANA: Hundreds of wealthy merchants and cigar aficionados from all parts of the world gathered in Havana this week to bid high stakes for humidors full of premium cigars. Cuba's annual Habanos festival ended on Friday night with an auction of ornate humidors of cedar and mahogany stacked with hand-rolled stogies that raised 800,000 euros ($1.09 million dollars). Habanos S.A. executives this month said cigar sales fell 8 percent to $360 million in 2009, so they have created the Julieta, a smaller, milder version of the Romeo y Julieta cigar, aimed specifically at female smokers. Women now make up only 5 to 10 percent of customers for Habanos. But even with the creation of the Julieta, Garcia said Habanos has only modest hopes for 2010 sales, due largely to a weak economy in Spain, the biggest market for Cuban cigars. The flavor of premium tobacco relies on the soil and climate in which it is grown. The western province of Pinar Del Rio, famous fo...
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