The futures markets are higher as tensions in Greece seem to be subsiding and Starwood Hotels seeks a new CEO and Taco Bell introduces a new menu offering. Oil prices are unchanged at 53 dollars a barrel this morning. The supply glut on the market continues U.S. oil stockpiles last week hit a record of 417.9 million barrels. The API Weekly Statistical Bulletin with stockpile data is due later today. Expectations are that U.S. oil stockpiles will increase by another 4-5 million barrels. Warren Buffett’s Berkshire Hathaway has exited a $3.7 billion investment in Exxon Mobil Starwood Hotels is looking for a new CEO. Its former CEO has resigned on amicable terms but had not come to the company with any previous hotel experience. Adam Aron, who has served on the board since 2006, will serve as interim CEO. Aron does have hospitality experience. The owner of hotel brands such as St. Regis, Westin and Sheraton, will begin its search immediately.
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