Oil prices rose after a big drop in gasoline supplies in top fuel consumer the United States raised worries of a crunch leading into the summer driving season.
The federal government's final report on the fatal 2005 explosion at BP's Texas City refinery criticized a key worker-safety agency for lax oversight and reiterated claims that organizational and safety deficiencies at the British energy company led to the blast.
"As the investigation unfolded, we were absolutely terrified that such a culture could exist at BP," said U.S. Chemical Safety Board Chairman Carolyn Merritt.
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.
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.
Cramer continues his list of the top 10 potential anti-competitive deals coming before 2008.
Oil prices soared above $60 a barrel as a rash of snags affecting U.S. oil refineries, pipelines, and an oil field sparked worries of a supply crunch in the world's biggest energy consumer.
Wild fluctuations in energy stocks have deterred investors recently. But analysts say the sector is still a good bet.
BP said Tuesday its fourth-quarter profit dropped 22% to a two-year low, driven down by the declining price of oil and increased safety spending after a series of high-profile mishaps including a deadly refinery blast in Texas and an oil spill in Alaska.
A sharp rise in crude oil prices failed to deter investors on Tuesday as they nibbled at stocks ahead of the Federal Reserve's decision on interest rates, set for release tomorrow afternoon.
The Dow closed at a record for the third straight session and Nasdaq fell slightly as investors bought selectively ahead of earnings reports and on a steep drop in oil.
BP said it will implement the panel's recommendations as part of its continuing effort to strengthen and standardized process safety management at BP's five U.S. refineries.
Lots of corporate headlines are already getting attention ahead of the open. Stocks in the U.S. are lining up to open higher at this point, and earnings will be the big focus. After making gains yesterday, European stocks are mixed with a flattish performance, and Japanese stocks were little changed to the downside.
The Dow scored its second record close in a row and the Nasdaq had its best week in four months as buyers snapped up oil, financial and technology stocks ahead of next week's earnings reports.
Shares of BP surged more than 4% after the oil giant said Chief Executive John Browne had decided to step down at the end of July, much earlier than planned.
Exxon Mobil – the most profitable company in U.S. history and also one of the most loathed among climate change activists. But going green isn't just good for the environment – it could also be good for the oil giant’s bottom line. Chris Fox of Ceres – an organization that pushes companies on climate issues on behalf of institutional investors – and Paul Sankey, an oil analyst at Deutsche Bank, debated the issue on “Street Signs.”
Venezuelan stocks plunged after President Hugo Chavez announces plans to nationalize some telecommunications and power generation utilities
Stocks closed mixed after another see-saw day as technology shares got a huge boost from Apple Computer.
Stocks closed higher after bargain hunters stepped in to drive up shares of financials, technology and industrials.
Stocks closed higher after another volatile day as gains in technology stocks and a huge drop in oil prices boosted the major averages.