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Morgan Stanley forecasts a “grim” outlook for oil on declining European economic activity and threat from Iran to block the Straits of Hormuz a vital shipping lane for oil. A drop in factory orders in Germany which is Europe-s largest economy and the war of words emanating from Iran, figured prominently in the forecast.
Monday Morning Headliners: Morgan Stanley(MS), Bank of America(BAC), Exxon Mobil Corp.(XOM), Ford Motor Co.(F), Citigroup Inc.( C ), Petrobras(PBR), Sprint Nextel Corp.(S), General Electric Co.(GE), Nokia Inc.(NOK).
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