Gazprom and ConocoPhillips Repent: E, COP, USO, XOP, OIL

Oil (NYSE:USO) markets caught a bid on Tuesday ahead of the FOMC announcement. WTI gained 0.77% to settle at $86.47 per barrel. Brent crude oil gained 1.3% to settle at $110.26 a barrel.

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1) Eni SpA (NYSE:E) has approved the prospectus and is proceeding with a 1 billion euros bond offering that will be listed on Mercato Telematico delle Obbligazioni. The offer will be in place from September 14 to October 4 of this year.

2) Gazprom OAO is under investigation by the Federal Cartel Office of Germany for a transaction made in late 2009. The transaction in question is the stake in VNG Verbundnetz Gas AG that Gazprom increased from 5.26% to 10.52%.

3) ConocoPhillips (NYSE:COP) is contemplating to create another fund to address the oil spill in the Bohai Bay in China. As of Monday September 19, small amounts of oil continued to spill into the sea.

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