The price of crude is rebounding today, with oil and oil-related sectors finding themselves again in the top five performing sectors this afternoon. Black gold received a boost today from news of a protracted shutdown of the Baku-Tbilisi-Ceyhan oil pipeline, a section of which was damaged in a fire on Wednesday. There are connecting ports on the Caspian and Mediterranean seas, with the pipeline running through Azerbaijan, George and Turkey. The line will be closed for a minimum of 2 weeks, but the shutdown could last as long as 5 weeks.

Meanwhile, the financial sector is being pulled down today by news that Citigroup (C) will buy back more than $7 billion in illiquid auction rate securities under a new settlement. Under the agreement, Citigroup will have to buy back the securities no later than November 5 to relieve about 40,000 customers who have been unable to sell the securities since February 12. Citigroup will also have to pay the State of New York a $50 million civil penalty and a separate $50 million civil penalty to the North American Securities Administrators Association. At last check, the shares of Citigroup were down more than 3%.

Meanwhile, American International Group (AIG) isn't doing much to help the sector either, particularly with news that it posted a second-quarter loss of more than $5 billion, triggered by write-downs and impairments on mortgage-related exposures.

However, sharing the spotlight with crude oil are semiconductor sectors who are enjoying a boost from Intel (INTC). A report from Citigroup said the company's growth target for third quarter "looks more achievable" on the strength of its Atom chip.