*Gazprom has agreed to lower gas price- sources. MOSCOW/ BEIJING, April 23- Europe's plans to reduce its dependence on Russian energy as the Ukraine crisis threatens supplies are spurring efforts by Russia's top producer, Gazprom, to sign a deal next month to pump gas to China, industry sources say.» Read More
Think there are no oil plays? Dig deeper. As the industry giants look to grow their reserves, a few companies could strike it rich.
Stocks closed higher as investors overcame concerns about subprime lending to spark a late-day rally. "We're going through a short-term bounce," Mark Arbeter, Chief Technical Strategist at Standard & Poor's, told CNBC. "Volume, so far, on the upside has been fairly light, which is not encouraging. "
Crude oil futures ended sharply lower Monday, falling for the third straight session, amid forecasts for warmer weather in the U.S. Northeast, the key heating oil market, and with traders expecting OPEC to keep output steady at its meeting this week.
Mark Urness, head of Energy Research at Calyon Securities, told “Street Signs” that people are overlooking a basic point about Halliburton and its much-debated Dubai strategy: The company will maintain its Houston headquarters and is opening an office in Dubai to better serve the Middle East.
America's friendship with its No. 2 oil supplier, Mexico, has been strained by anti-immigration rhetoric; and the U.S.' No. 4 oil provider is Venezuela -- which just moved to nationalize the industry. Should Yanks be nervous about energy security? Two policy experts appeared on "Power Lunch" to weigh in on the issue.
The oil services giant will soon shift its corporate headquarters from Houston to the Mideast financial powerhouse of Dubai, chief executive Dave Lesar announced Sunday.
Tsakos Energy Navigation, a Greek shipper of crude oil and petroleum products, said Monday its fourth-quarter profit rose 27%, as a larger fleet offset a softer market and higher operating costs.
Stocks ended Friday mixed but major indices were higher for the week. "We'll get a little more inflation data next week. We expect it to be tame and not consequential for the market," says First American Funds chief investment officer Mark Jordahl. "We're positive at this point, but it's hard to know when the market will get its legs again."
Oil prices tested the $60 level as easing U.S. supply concerns spurred a bout of profit taking.
CNBC’s Eric Bolling told “Morning Call” that President Bush’s trip to Brazil to discuss ethanol may be a warning to Venezuela’s Hugo Chavez--a fierce critic of the United States--and who has nationalized some of his nation's economy.
Stocks closed higher as the major indexes held on to solid gains ahead of Friday's highly anticipated employment report. "We've seen a nice bounce back the last couple of days. The markets were clearly oversold," Phil Orlando, chief equity market strategist at Federated Investors, told CNBC.
Crude oil futures slipped as some traders took profits on a $1 bulge, the day after a surprise government report showed a big drawdown in crude stocks last week.
Gasoline prices have jumped to more than $3 a gallon in some parts of California and Hawaii, and may hit that level in other parts of the country when the busy summer driving season approaches. "It kills me," said Gloria Nunez, 53, as she filled her Ford Explorer SUV at a San Jose gas station.
What goes up can go down and then back up again. U.S. stocks, for now,look ready for lift off at the opening, after yesterday's relatively quiet session left prices slightly lower.
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?”
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