BRASILIA, April 20- Brazils President Dilma Rousseff must assume her share of responsibility for the controversial purchase of a refinery in Texas by Petroleo Brasileiro SA, the former chief executive of the state-run oil company said in an interview published on Sunday.» Read More
Stocks are flat ahead of the opening, though stock markets worldwide are springing higher on the back of Wall Street's gains Wednesday. The focus today is on the Fed.
Stocks closed higher, led by gains in technology and energy shares. Major indexes had fallen earlier in the day after weaker-than-expected durable goods data but then rebounded. "I think a lot of people see setbacks to be bargain time", said Michael Metz of Oppenheimer.
Petro-Canada has decided to pull out of Venezuela and has reached an agreement with the state oil company on compensation for its oil investments, the Venezuelan government said.
Crude oil and gasoline prices settled higher on Wednesday after a government inventory report stoked concerns about the nation's gasoline supplies during the summer driving season.
Stock futures point lower this morning after a weak showing in equities markets worldwide. European stocks are trading lower, and Asian markets were mostly down overnight. Volatility will no doubt be the tone of the day, as the Fed starts its two-day meeting. Durable goods fell 2.8%, below expectations. The dollar slid after the report and Treasurys rallied.
Russian oil firm Rosneft hopes to pay down its huge debt by milking and honing its increasingly profitable business rather than selling more shares, the firm's vice president for finance said.
Stocks finished lower in a choppy session that was overshadowed by concerns about the housing slowdown and a meltdown in the subprime mortgage industry. "The financials tend to lead the market down and that's what they were doing today," said Robert Albertson, chief strategist at Sandler O'Neill. "I think it goes well beyond subprime. "
U.S. oil giants Exxon Mobil and ConocoPhillips both left huge crude projects in Venezuela's Orinoco Belt after President Hugo Chavez nationalized them as part of his socialist revolution. Venezuela is the fourth biggest supplier of oil to the United States.
Stock futures are perking up this morning after three sessions of selling. Housing starts for May are reported today and there are a few earnings reports to make headlines.
State-controlled Rosneft strengthened its position as the nation's top oil company on Tuesday, announcing that it would buy nearly 600 filling stations and other facilities that once belonged to the bankrupt Yukos oil company.
Spanish power company Iberdrola plans to buy regional utility owner Energy East for $4.5 billion (3.34 billion euros) in cash, giving it a foothold in the United States, the companies announced Monday.
Stocks ended lower as investors were rattled by concerns regarded leveraged mortgage securities held by two Bear Stearns hedge funds. "We will see a splash near term as some of these funds need to unwind positions in paper that really isn't traded too much," said Jack Ablin of Harris Private Bank.
John Kilduff, senior vice president and energy analyst at Man Financial, appeared on CNBC's special "Power Lunch at the Four Seasons" to give his outlook for oil and gasoline -- and to explain why easing tensions in Nigeria haven't made him bearish on either.
In a special edition of "Power Lunch at the Four Seasons," Abby Joseph Cohen, the chief U.S. portfolio strategist at Goldman Sachs, offered her perspective on the markets, the S&P 500 and the global economy to CNBC's Bill Griffeth.
Did the Bear Stearns hedge-fund blowup scare you out of the market? Here are some picks to get you back in.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.
Italian energy company Eni and Russia's state-controlled Gazprom on Saturday said they signed a memorandum of understanding on the possibility of supplying Russian gas to European Union countries through a pipeline under the Black Sea.
China's top oil producer Sinopec's stock plunged as much as 7% in China after the company's Chairman Chen Tonghai abruptly resigned for personal reasons on Friday.
The average price of a gallon of gasoline in the United States fell a little more than 11 cents over the past two weeks, as seasonally high demand slowed the price decline at the pump, an industry analyst said Sunday.
Stocks ended broadly lower as Wall Street pondered the fate of two Bear Stearns mortgage debt funds. Losses were compounded by adjustments in several key indexes.
Oil prices edged higher Friday as markets monitored talks between the Nigerian government and labor union officials to end a general labor strike in Africa's largest crude producer.
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