Morning News Monday July 9th 2007
General News: - The IEA reported that the price of crude oil will be supported longer term as demand picks up and supply increases at a slower rate. Currently, the IEA sees growth demand of 2.2% and capacity in OPEC and Non-OPEC countries is expected to rise 1.6%. However, the refinery capacity has a chance to rise which will prevent oil prices from growing out of hand. - According to Barron’s, soft drink makers may switch from corn syrup to sugar. Asia/Europe: Asia: - Japanese stocks rose to a seven-year high propelled by stronger-than-expected machinery orders. The Nikkei…