HOUSTON, Dec 20- California gasoline's differential climbed in the Los Angeles wholesale market on Friday after a refinery in the area reported a malfunction, traders said. December-delivery CARBOB gasoline in Los Angeles rose 3.75 cents a gallon to 4 cents a gallon below the price for the January RBOB gasoline contract on the New York Mercantile Exchange.» Read More
Cyclones off the coast of Western Australia forced the shut down on Thursday of almost half the country's oil production as well as a major iron ore export terminal, with more closures seen as two storms approach oil fields.
Exxon hits Wall Street and makes headlines but refiners are the real story. Texas-based Exxon Mobil sauntered up to the New York Stock Exchange for an analyst day and made big headlines when the company announced plans to spend $21 billion to find more oil. But...
Stocks closed modestly lower as worries about a slowing economy stalled a modest rally led by bargain-hunters."The tug of war that's going on between the bulls and the bears is over the strength of the underlying economy and the strength of earnings," Quincy Krosby, Chief Investment Strategist at The Hartford, told CNBC.com.
Oil surged toward $62 a barrel after surprise declines in U.S. crude and gasoline inventories raised concerns about supplies in the giant energy market.
Technology is reinventing established oil fields and drastically increasing the amount of oil thought to be accessible in the world, according to a report from The New York Times. “It looks like the peak oil theory peaked with $78 oil, last August,” said Daniel Yergin, Associates Chairman at Cambridge Energy Research, to “Squawk Box.”
Ted from Connecticut asked: “With the China markets and other emerging markets cooling off, both PetroChina and Petroleo Brasiliero - China and Brazil's largest oil companies are off their 52 week highs. Do they look like a good buy or will they go even lower?”
Upside in investments is important. But if today’s rally doesn’t hold and last week’s sell-off returns in full force, you’ll want stocks that minimize the downside. The solution: Look for good yields.
Stocks snapped back from a week-long selloff and posted the biggest one-day gains in several months."The market is feeling a lot better," said Stuart George, head of equity trading at Delaware Investments, in an interview with CNBC.com.
Oil prices climbed toward $61 a barrel, drawing strength from a rebound in global equities and on forecasts for a drop in gasoline inventories in the United States, the top consumer.
Investment in alternative energy is surging and it’s not simply the result of the politically correct investing crowd. As energy industry executives meet in Houston at the CERA conference, venture capitalists are taking an active interest in the sector.
Ted Turner calls solar energy the "biggest business opportunity the world has ever seen." And for once, he may be understating it. CNBC's Jane Wells reported on the maverick mogul's plans, on "Morning Call."
BP Chief Executive John Browne saw his pay fall in 2006, despite a 15% rise in the oil giant's profits, as BP suffered oil spills, accusations that cost cutting had hit safety and allegations of market manipulation.
Stocks were hit by another late-session selloff as investors remained jittery after the market's worst week in four years. "I think it's just indicative of what the market is going to look like for the next couple of weeks, it's going to be very choppy," said Dan McMahon, head of listed trading at CIBC World Markets.
Crude oil futures fell below $60 a barrel, pressured by weak stock markets in Asia and Europe that fueled economic growth concerns, though bargain hunting lifted stocks in the United States and helped support crude futures.
China's legislature is expected to end special tax breaks for foreign companies in its annual session Monday. A law that state media say is expected to be enacted would equalize tax rates, raising foreign companies' tax bills and cutting those for many Chinese entities.
Stocks closed sharply lower on Friday, sparked by a wave of last-minute selling by investors reluctant to be in the market over the weekend.."There was just no good news that came out today to convince people to buy stocks," said Charles Rotblut, senior market analyst at Zacks.com. "There are a lot of people happy with taking money off the table and waiting until Monday to see how it unfolds."
Oil prices fell Friday as traders watched the stock market decline even further, renewing concerns that economic growth may stall.
This week's turmoil in the global markets has put the spotlight on arcane investment practice known as carry trade.Though a buzz word in investment circles, carry trades actually play an important role in global financing and markets.
Equity investors may look for bargains as trading begins next week following the worst five-day stretch for U.S. stocks since August 2004 and the poorest in four years in Europe, according to Mike Lenhoff, Chief Strategist and Head of Research at Brewin Dolphin Securities.
Linde, the world's largest maker of industrial gases, said Friday that 2006 net income more than tripled after restructuring the business.