Refining company Valero Energy is now seeking to export Canadian crude to its refinery in the UK.» Read More
Oil prices fell Friday as traders watched the stock market decline even further, renewing concerns that economic growth may stall.
U.S. crude oil futures ended higher for the seventh session in a row on Thursday as gasoline futures rallied amid refinery snags and shrinking supplies.
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.
Valero Energy expects its 170,000-barrel-per-day refinery in Sunray, Texas, will be shut at least through the middle of the week, a spokeswoman said on Sunday.
A fire broke out at a West Texas refinery Friday, injuring at least three people and sending a huge black cloud billowing into the sky.
Wild fluctuations in energy stocks have deterred investors recently. But analysts say the sector is still a good bet.
The Dow finished at an all-time high on investor optimism about the strength of the economy.
Last year may have been great for the energy sector, but so far 2007 is a different story. Oil prices fell to as low as the $50 range from $58.34 on Jan. 4 but have stabilized a bit since then. The sudden dip has pushed OPEC to enforce a proposed 500,000 barrel a day cut in production, starting Feb. 1. Even though Apache, Exxon Mobil, Marathon Oil...
Valero Energy says Chairman Bill Greehey has resigned from the company's board so that he can focus on his jobs as chairman of Valero LP and Valero GP Holdings
The Dow climbed to a new record and the Nasdaq finished at a six year high as falling oil prices drove buyers into consumer, health care and technology stocks.
Buying in technology and financial stocks pushed stocks higher, outweighing declines in the energy sector.
In our Big Money '07 series we're looking to energize your portfolio-- literally-- as we look at the best ways for investors to make money in the energy sector. On "Morning Call" two guests give their stock "picks." Fadel Gheit is Senior Energy Analyst with Oppenheimer & Company and Bob Morris is oil and gas analyst with Bank of American Securities.
Both the Dow Jones Industrial Average and the S&P 500 ended the day higher – with the Dow setting another record, closing up 30 points and the S&P up 3 – all this despite worrisome economic data coming in the form of a rise in wholesale prices and a decline in housing permits. The NASDAQ couldn’t keep up, falling 6 points on continued weakness in the technology sector.