NEW YORK, March 14- Brent crude oil rose by more than $1 on Friday as heightened tension in Ukraine ahead of a referendum in the Russian-majority region of Crimea raised worries over Russian oil supplies.» Read More
Gazprom is ready to sell up to 50 percent of its forthcoming Italian gas distribution and marketing unit to local investors, the daily MF said without giving a source.
A plan by major banks to lump some of their more toxic assets into a debt super fund is giving Wall Street a case of indigestion. Couple that with the sting of record oil prices, and a so-so day turned into a sea of chop.
Oil zoomed to an all-time high of $86.13 a barrel, propelled by robust demand from booming commodity markets and fresh geopolitical worries.
Here's a look at the midday weakness: a) Citigroup comments on deteriorating consumer credit is weighing on financials. Oil at new highs helping energy but hurting transports.
Stocks are sending a mixed message this morning as oil cranks to a new high and earnings season gets underway. European stocks are mixed to firmer, and Asian markets were higher though Tokyo had a flat session.
OPEC on Monday raised its forecast for demand for its oil this winter and said it appeared more likely that top consumer the United States would avoid a steep economic slowdown.
European stocks were seen edging lower on Monday, after rallying for nearly three weeks, but losses could be limited as buoyant crude oil prices are expected to lend support to energy shares.
While investors cheered Friday's relatively benign report on wholesale prices in September, consumers might not find much to be happy about.
Better-than-expected earnings from mobile-phone company Sony Ericsson boosted telecommunications stocks in Europe and added to a firm close for the major indexes Monday.
Stocks are squarely in positive ground this morning helped by a surprise comment from Wal-Mart that its earnings will be better than expected this quarter. Chain stores report monthly sales today and expectations have been low. Macy's for instance is down 2.7%, Limited was down 4%, Chico's is down 8.3% and Nordstrom cut its third quarter forecast.
Stocks bounced off session lows to close mixed on Wednesday but a late afternoon rally fizzled as investors were wary of initial quarterly earnings reports which came in largely below forecasts.
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The U.S. will have plenty of heating oil supplies this winter to meet demand, but the Bush administration is concerned about the higher prices consumers will have to pay for the fuel, Energy Secretary Sam Bodman said Wednesday.
Oil refiner Valero Energy expects sharply lower quarterly profit due to a drop in refining, throughput and product margins, the company said on Wednesday.
Saudi Arabia, the world's top oil exporter, will keep its crude supply steady to Europe in November but is expected to boost shipments to Asia, industry sources said on Wednesday.
Oil bounced back above $80 and brought the oil service stocks with it. Are names like Halliburton (HAL) and Schlumberger (SLB) the best way to play crude’s volatility?
Chevron said Tuesday it expects its third-quarter earnings to be significantly below the $5.4 billion it earned in the second quarter due to a sharp drop in its refining margins.
"So when I slip it into gear, is that when you start screaming?" It's a question I ask Jake the engineer with a smile on my face, just before I start this behemoth of American muscle rolling down the tracks. "Flip the lever sideways,'" he says. "Blow the horn."
U.S. consumers will pay 10 percent more to warm their homes this winter, with the seasonal cost for all heating fuels averaging $997, or $88 more, than last year, the government said Tuesday.
With oil prices falling due to warm weather in the US, energy stocks, a safe haven since the start of the credit squeeze in August, may lose some of their attraction, but economists say some companies in the sector are still likely to perform strongly.