Oil Prices Move as Tropical Storm Cindy Makes Landfill in Gulf
Some oil terminals have been closed in the Gulf of Mexico and employees evacuated as Tropical Storm Cindy hits the oil rich region. The storm is not expected to have a lasting impact on the huge supply of oil that is currently in the area. Crude oil prices are down more than 20% year to date. Senate Republicans will unveil their draft healthcare legislation today. Investors will comb the plan for answers on bringing down insurance costs and the future of the Medicaid program.
Meanwhile, Anthem has said it will stop offering Obamacare policies in Indiana and Wisconsin because it is unsure if the government will continue to provide subsidies for lower income Americans. Uber has lost a board member. Bill Gurley resigned after leading the charge to get rid of CEO Travis Kalanick, who said he would step down from that role earlier this week. Gurley was an investor in Uber but Kalanick is still on the board and having both there would have been uncomfortable.
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