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SINGAPORE (Reuters) – Brent crude held at $ 120 on Wednesday, after posting steep losses in the previous session, as a cut in global oil consumption forecast by the EIA and an unexpected surge in U.S. crude stocks reinforced fears demand growth may slow.

The cut by the U.S. Energy Information Administration (EIA) followed weak economic numbers from the two top oil consumers – China and the United States – suggesting the global economy may be in more trouble than it appeared. These factors overshadowed concerns of supply disruption from the Middle East.

Brent traded 15 cents higher at $ 120.03 a barrel by 0302 GMT, after settling $ 2.79 lower at its weakest since February 17. The 2.27 percent slide was the biggest one-day…………… continues on Reuters

FAYETTEVILLE, Ark. – Bobby Petrino believed he could win a national championship at Arkansas. He won’t get the chance.

Athletic director Jeff Long fired Petrino on Tuesday night and laid out a stunning laundry list of misdeeds against the man he hired away from the Atlanta Falcons four years ago.

He scathingly dressed down Petrino for hiring his mistress and intentionally misleading him about the secret relationship that was laid bare following their April 1 motorcycle ride together that ended in an accident. He said Petrino missed multiple chances over the past 10 days to come clean about an affair that had crossed the line from infidelity into workplace favoritism.

“He made the decision, a conscious decision, to mislead the public on Tuesday, and in doing so negatively and adversely affected the reputation of the University of Arkansas and our football program,” Long said, choking up at one point as he discussed telling players that their coach was gone. “In short, coach Petrino engaged in a pattern of misleading and manipulative behavior designed to deceive me and members of the athletic staff, both before and after the motorcycle accident.”

The 51-year-old Petrino, a married father of four, maintained an inappropriate relationship with 25-year-old Jessica Dorrell for a “significant” am…………… continues on MiamiHerald.com