Crude oil is higher today after the American Petroleum Institute reported a surprise big drop in supplies. If the U.S. Energy Information Administration confirms that later today, it would be the biggest one week drop in crude supplies in one week. There was also a big increase in Chinese oil imports. Hewlett Packard ( ) is getting smaller. It says it will spin-off its software business to U.K. software maker Micro Focus in an $8 billion deal. CEO Meg Whitman says the move makes HPE ‘a stronger company, well positioned to the future.’ Liberty Media Group ( ) is purchasing Formula 1 racing. The Media group deal values Formula 1 at $4.4 billion. Liberty Media plans to change its name to the Formula 1 Group once the deal is complete.
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