TRIPOLI, March 10- Libya on Monday stopped a North Korean-flagged tanker that had loaded oil from a rebel-held port, after naval forces briefly exchanged fire with the rebels, officials said.» Read More
Norsk Hydro struck oil and natural gas reserves about 75 miles off the western Norway city of Bergen, the Norwegian Petroleum Directorate announced Monday.
The national average price for gasoline dropped 7 cents in the last three weeks, according to a nationwide survey released Sunday that marked the first decline since January.
Stocks closed sharply higher as bargain hunters helped the market snap three-day selloff. "Bond yields have been rising and people stepped back from the market but came back in today and invested money that was piling up on the sidelines in the past couple of days," said David Goerz, chief investment officer at HighMark Capital.
Hugh Grant, chairman and chief executive of Monsanto, told CNBC’s “Street Signs” that he believes ethanol will be a “sustainable industry” that can thrive without governmental subsidies.
Oil dropped more than two dollars on Friday, weakened by selling in equity markets that raised doubts over energy demand and after a storm that halted exports from Oman lost power.
Finally, the ideal oil stock.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Russian stocks have posted outstanding returns in the last six years, but market pros say investors may want to pause before jumping headfirst into the maturing economy.
Chief financial officers are becoming more pessimistic about the U.S. economy, according to a survey by Duke University’s Fuqua School of Business. The CFOs expect slower growth in earnings, capital spending and hiring, the survey says. They’re also concerned about rising labor costs and weakening consumer demand.
Stocks closed sharply lower as rising bond yields signaled a tougher global credit environment. "It was a pretty ugly day," said Tom Schrader, managing director of U.S. listed trading at Stifel Nicolaus. "The market needed a washout and we got one. It was caused by higher rates, which is not good for the carry trade, LBOs and M&A."
Investors' expectations of an interest rate cut--and home buyers' hopes for cheaper mortgages--seem to be disappearing. The yield on the Treasury's 10-year note passed 5%, and some market watchers say the yield is likely to climb higher. That will make it even harder for consumers to finance home puchases and companies to borrow.
Some consumer advocates fear that consumers may get less bang for their buck at the pump, as scorching heat physically expands the volume of gasoline -- while gasoline prices remain the same. Judy Dugan, research director at the Foundation For Taxpayer & Consumer Rights, told "Morning Call" that the heat expansion -- and ostensible dilution -- of gasoline affects consumers negatively.
Oil and gasoline futures jumped Thursday on concerns that U.S. refineries aren't making enough gasoline to meet domestic demand.
Stocks closed lower for the second straight session after the latest productivity data renewed inflation concerns and a rate hike in Europe fueled jitters about rising interest rates. "I think what we're seeing here is a correction after a fantastic run," said Larry Kantor, co-head of research at Barclays Capital.
Michael Morris, chairman of Business Roundtable’s Energy Taskforce and chairman and CEO of American Electric Power, told CNBC’s “Street Signs” that a world-wide plan is needed to attack global warming.
U.S. oil edged above $66 on Wednesday after U.S. gasoline stocks rose for a fifth straight week and eased concerns of a summer supply crunch in the world's top consumer.
Keith Wirtz, president and chief investment officer of Fifth Third Asset Management, told CNBC’s “Squawk on the Street” that he believes the market is poised to move higher despite rising oil prices and the possibility of higher interest rates.
Rising rates trump all else this morning as Wall Street braces for a downhill slide on the opening. European markets are broadly lower, continuing their downtrend after the European Central Bank raised interest rates by a quarter point to 4%, as expected. Chinese stocks closed higher and Asia's other markets were mixed.
Cyclone Gonu pummelled Oman on Wednesday, halting oil and gas exports for a second day and forcing thousands to flee the coast, but weakened as it moved through the Arabian Sea, a major route for Gulf oil shipments.
Tropical Cyclone Gonu weakened as it passed through the Arabian Sea and headed for the Strait of Hormuz, a major shipping channel for Gulf oil shipments, towards Iran, forecasters said on Wednesday.
Stocks closed lower as investors used rising bond yields and diminished outlook for an interest rate cut as excuses to take profits. "Technically, the market looks a lot like it looked before the 5% correction we got back in late February," said John Kattar, chief investment officer with Eastern Investment Advisors. "The market is overbought."