China oil major CNPC is probing a 2013 oil deal as part of the mainland's sweeping corruption crackdown, taking down one of Premier Xi's political rivals.» Read More
Crude oil futures slipped in light volume, as traders booked profits after three days of gains ahead of Christmas.
A billionaire Chinese petrochemical entrepreneur became the fifth senior industry figure to become enmeshed in a corruption investigation. The New York Times reports.
China's drive against corruption moved into the oil sector, as authorities announced that executives of China National Petroleum Corporation were under investigation. The NYT reports.
Earnings season officially kicked off today, and a number of negative preannouncements from S&P 500 companies could mean ugly results.