Equity sectors: Financials are the worst space in the market $GS $XLF $FAZDiscretionary is also off 1.25% on weakness in autos and IGT

• Equity sectors: Financials are the worst space in the market, falling over 1.25% on weakness pretty much across the board. Industrials are off 1.25% on weakness in homebuilders, airlines, and building products.
• Discretionary is also off 1.25% on weakness in autos and IGT. Energy is  in line with the tape, although refiners are weighing on the group due to lower crack spreads.
• Tech is slightly ahead of the tape as strength in JNPR, NOVL, and ERTS offsets weakness in semis (SOX off over 1.25%). Materials are outperforming a bit on strength in gold stocks and CF, although steels continue to act poorly and paper stocks also weigh on the group. Telecom is off just under 0.5%, outperforming on strength in VZ. Staples are off under 0.2% and outperforming on strength in beverages, DF, and HSY.
• Utilities are flattish on the day, outperforming the market on a defensive bid as investors look to reduce beta. Healthcare is up close to 0.25% on the day, the top space in the market, on strength in biotechs (AGN, GENZ, BIIB, and CELG) on news that Sanofi is looking to acquire a biotech company in the US.

US military warns oil output may dip causing massive shortages by 2015

US military warns oil output may dip causing massive shortages by 2015• Shortfall could reach 10m barrels a day, report says  • Cost of crude oil is predicted to top $100 a barrel

Daily Commodities Brief Monday, April 12, 2010

Oil rises above $85 on weak dollar, China data
PERTH, April 12 (Reuters) - Oil prices rose above $85 a barrel, buoyed by a drop in the U.S. dollar and bullish data that showed Chinese crude imports jumping to their second-highest monthly level in March.
"The weaker U.S. dollar and positive Chinese trade data are the two main supporting factors," said David Moore, an analyst at the Commonwealth Bank of Australia.

China '10 coal imports seen staying near '09 highs
BEIJING, April 12 (Reuters) - China's coal imports this year will remain at similar levels to last year, when they rose to a record high on strong Chinese demand and weak international prices, Fang Junshi, director-general of the Department of Coal Industry at China's National Energy Administration, said on Monday.
He also told reporters on the sidelines of a conference that coal sector consolidation in Henan province and other coal-producing areas would not affect China's coal output.

Algeria's Sonatrach says makes new oil, gas finds
ALGIERS, April 11(Reuters) - Algerian state energy group Sonatrach announced on Sunday a total of two new oil and gas finds, bringing to five the number of hydrocarbon discoveries this year.
The new finds were made after drilling wells at blocs 239a nad 244a in Tinrhert area in Illizi basin, the company said in a statement on its inetrnet site ww.sonatrach-dz.com.

Occidental to boost Oman crude production in 2012
MUSCAT, April 11 (Reuters) - Occidental Petroleum Corp will boost its crude production in Oman by 50 percent to 150,000 barrels per day (bpd) in 2012, senior company executive Bill Lbrecht said on Sunday.
The fourth-largest U.S. oil and gas company currently produces from the Mukhaizna field in Oman.