Rippe saw TransCanada Corp- the company that hopes to build the 1,200- mile Keystone XL segment as part of a network of pipelines that move oil from Canada to refineries on Texas's Gulf Coast- lay another section of the Keystone line nearby four years ago.» Read More
The Dow Jones Industrial Average closed fractionally higher, helped by strength in Wal-Mart and Boeing, but the broader market failed to gain traction.
Oil finished with slight losses on the day despite a morning rally powered by cold winter weather across much of the U.S.
Bears lost the Super Bowl but they might make some gains on Wall Street today. Stocks look set to start the week on a soft footing with focus on some key earnings reports and a light calendar of economic data. Merger news dominates Monday headlines.
OPEC will wait until March to gauge the impact of an output cut implemented on Feb. 1 before deciding on any further action, Qatar's Energy Minister Abdullah bin Hamad al-Attiyah said on Monday.
Stocks ended a strongly positive week narrowly mixed Friday after the market absorbed a weaker-than-expected employment report that curbed bullish sentiment.
Oil surged into the close of open outcry trading in New York, stoked by colder weather in top consumer the United States and increasing political tension in major producing countries.
Today commodities traders are trying to determine whether recent talk of a new OPEC-style cartel for natural gas is serious or not. The proposed alliance would primarily be between Russia and Iran. Russian President Vladimir Putin said the idea was "interesting." Could a natural gas cartel be in Wall Street's future, or is Russia after something else?
It’s no secret that Democrats are looking to tax major oil companies in the U.S. It was one of the party’s platforms during the recent midterm elections. But the cries are getting louder after Thursday’s record-setting profits reported by Exxon Mobil. Why subsidize the most profitable industry in the U.S.? Both sides of the issue made their case on “Morning Call.”
The second largest U.S. oil producer said its fourth-quarter profit fell, pulled down by weaker natural gas prices. The San Ramon-based company said net income in the quarter dropped to $3.77 billion, or $1.74 a share, from $4.14 billion, or $1.86 a share, in 2005. On average, analysts polled by Thomson Financial were expecting Chevron to earn $1.73 a share.
It's all about the jobs report today, and stocks are tentative ahead of the number. The market is looking flat to positive, after a rousing performance yesterday that lifted the Dow to its 27th new record since October. Non farm payrolls are expected to increase by 167,000.
The Dow finished at an all-time high on investor optimism about the strength of the economy.
Crude oil prices followed natural gas lower after the government reported inventories of natural gas fell less than expected.
Fourth-quarter earnings at the Irving, Texas oil giant fell 4.3% on lower natural gas prices and shrinking gasoline margins, but results outpaced analysts estimates.
For the year, Exxon's net income was $39.13 billion, up 9.3% from last year. Revenue increased 1.9% to $377.64 billion.
Stocks in the U.S. for now, look ready to run at the opening bell, continuing yesterday's Fed triggered rally. Some fresh data, pending home sales, auto sales, and some big earnings, including oil companies, are the headlines investors will watch today. Chinese stocks stabilized overnight, and Japanese shares rose.
Royal Dutch Shell reported a 2.6% rise in underlying quarterly profits Thursday, better than analysts' forecasts, boosted by higher production and strong oil prices.
Swiss-based oil refiner Petroplus said on Thursday it intended to buy BP's Coryton Refinery for $1.4 billion, its first big purchase after last year's $2.4 billion listing..
Stocks staged a late-afternoon rally after the Federal Reserve signaled that the outlook for inflation has improved while the economy continues to grow at a moderate pace.
Crude oil futures rallied today to end a seesaw session more than a dollar higher and above $58 despite government inventory data showing crude oil and gasoline supplies rose last week and as February refined products contracts expired.
If you’ve been paying attention to the oil market lately, you’ve probably spent some time scratching your head. Crude oil prices seem to fluctuate on a day-to-day basis now, leaving investors to wonder when the volatility will end – and what’s behind it.