A JPMorgan analyst raised her investment rating on three U.S. oil refiners Monday, saying that the difference between two key oil prices will benefit them. Because of that, U.S. oil refiners could see increased margins, JPMorgan analyst Katherine Lucas Minyard said in a note to clients.» Read More
Phil Flynn, a member of Alaron Trading, told CNBC’s “Squawk Box” that the U.S. may face tight gasoline supplies this summer.“(Production numbers) better change soon,” Flynn said Friday. “Otherwise, we’re going to have big problems in this country. I don’t know how we’re going to get gasoline supplies where they need to be by Memorial Day. We need to be at 210 million barrels in just a few weeks. We’re at 194 million.”
Saudi Arabia said it foiled an al Qaeda-linked plot to attack oil facilities and military bases, arresting more than 170 suspects, including some trainee pilots preparing for suicide operations.
Chevron's first-quarter earnings rose on a one-time gain from the sale of a refinery, the No. 2 U.S. oil company said.
Stocks ended mixed but the Dow closed at another record high as earnings continued to exceed expectations. "We were all expecting some kind of pullback but it's just one of those moves that you can't pinpoint with any single piece of data," said Mike Driscoll, managing director of listed trading at Bear Stearns.
Hi all. Here's a report that ran on CNBC-TV today that might be of interest. It's money manager Mike Koskuba of Victory Capital Management on stocks he thinks have a great upside coming to them--and stock holders. Now, these are not necessarily for you to add to your contest picks (or your personal portfolio) and you might to get tremendous gains, but they are some stocks to think about.
U.S. crude oil futures ended a choppy session lower as traders booked profits. Earlier in the day, prices jumped above $66 a barrel amid a flurry of refinery glitches. A string of refinery outages in the United States, coming on the heels of a long and extensive maintenance season, has drained gasoline stocks as the giant market gears up for driving season.
As oil prices swing, gasoline keeps rising -- and some analysts have predicted $4-a-gallon gas this summer. Will higher prices at the pumps affect the U.S. economy? Jan Hatzius, Goldman Sachs' chief U.S. economist, and Julia Coronado, senior U.S. economist at Barclays Capital, weighed in, on "Power Lunch."
Alan Mulally, Ford Motor's chief executive officer, told CNBC’s “Power Lunch” that the company is on track to make a profit in 2009.
Actors Jonathan Tucker and Stephen Collins hold onto the first two positions in Trading With The Stars. (We post Jonathan's picture--as he still leads). Stephen had gains on most of his purchases on 4/24, but lost almost 6% on Advanced Energy. Meanwhile, Ernie Hudson continues to be the most volatile moving from down 5th to 8th on losses in Advent Software and Mentor.
Exxon Mobil, the world's largest publicly traded oil company, said Thursday its net income grew 10% in the first quarter, as higher refining, marketing and chemical profit margins overcame lower crude oil and natural gas prices.
Russian state-controlled oil major Rosneft said on Thursday it has become the world leader among public companies in oil reserves with a 6.1% increase in its total hydrocarbons reserves in 2006.
The Dow ripped through the 13,000 level to close with a 135-point gain spurred by strong earnings reports and positive news from Alcoa. "The momentum in the equities market is looking really good," said Alec Young, market strategist at S&P. "We were expecting earnings growth of about 3% and we've seen double that."
It only took six months for the Dow Jones Industrial Average to rise 1,000 points to a record 13,000. But the way analysts were talking on Wednesday, it may take even less time for the blue-chip average to reach 14,000.
Oil rose more than a dollar on Wednesday after U.S. gasoline stocks fell for an 11th straight week, tightening supplies ahead of peak summer demand in the world's top consumer.
Robert Morris, oil and gas analyst at Banc of America Securities, told CNBC’s “Morning Call” that major oil companies such as Exxon-Mobil, Chevron and ConocoPhillips are still good investments.
ConocoPhillips, the nation's third-largest oil and gas producer, said Wedneday first-quarter profit rose 7.7%, as one-time gains from asset sales offset the negative impact of lower crude oil prices.
BP, Europe's second-largest oil company, reported a 17% drop in first-quarter earnings Tuesday on lower oil prices and declining production.
Actor Jonathan Tucker maintains his lead and fellow actor Stephen Collins holds on to second. Stephen was by far the most active celeb Tuesday (trust me, putting in all those ticker symbols for him was NOT easy), but his purchases could give him the lead if they perform well on Wednesday. Meanwhile, James Cromwell holds on to 3rd place, but Ernie Hudson falls from 4th place to 5th.
The Energy Information Administration announced an unexpected draw down in U.S. gasoline inventories. What does this bode for prices as we approach "gasoline season"? Joel Fingerman, principal at OilAnalytics.net, told "Morning Call" viewers to expect a rise -- and mentioned a possible way to play the prices.
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