Oil

This is why Petrobras and Gazprom have been investor black holes

Petrobras (PBR, quote) announced that the company is boosting cashflow-negative and loss-leading gasoline imports at their fastest pace ever in attempt to hold down prices for alternative fuels, while trying to block investment in alternatives, or at least make investments in these kinds of products– namely, ethanol — unattractive. 

Analysis Brazil Energy Oil Russia Tim Seymour