A crush of big cap earnings and arguably the most important economic reports until September make next week the busiest of the summer for markets.» Read More
CALGARY, Alberta, Oct 5- Canadian cash crude prices weakened for the fourth straight session on Friday as production from the Alberta oil sands looked set to increase for next month.
SAN FRANCISCO/ LOS ANGELES, Oct 5- An unprecedented spike in California gasoline prices showed signs of easing on Friday, with some supply-stricken service stations preparing to reopen and retail rates poised to ease after topping $5 a gallon in many places.
Crude prices will continue to drop, but gas prices won’t because of tight refinery capacity, Strategic Energy Advisors Chairman Tom Petrie said Friday on CNBC.
By Braden Reddall and Nichola Groom. SAN FRANCISCO/ LOS ANGELES, Oct 5- Californians awoke on Friday to yet another unprecedented spike in the price of gasoline that brought the one-week increase in the Golden State to a whopping 36 cents a gallon. "It's insane," said Matt Hurd, 35, as he filled up at a San Francisco gas station near the Bay Bridge. "
SAN FRANCISCO, Oct 5- California gas prices rose 17 cents a gallon overnight due to supply disruptions at some refineries and seasonally low inventories, bringing the one-week increase in the Golden State to nearly 36 cents. The average retail price of gasoline was $4.486 on Friday morning, up from $4.315 on Thursday and $4.131 a week ago, according to AAA data.
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*UBS raises Phillips 66 price target to $52 from $46; rating buy. Reuters Station users, click. 1568. Reuters Station users, click. 4899.
Light synthetic crude for November delivery last sold for $9.75 a barrel over benchmark West Texas Intermediate, compared with $12 a barrel over WTI on Tuesday, according to Shorcan Energy Brokers. November Western Canada Select heavy blend was quoted at $11 a barrel under WTI, an 80- cent wider discount than on Tuesday.
HOUSTON-- Phillips 66, a refining and pipeline company that split from ConocoPhillips in May, is raising its quarterly dividend by 25 percent to 25 cents. The Houston company's previous payout was 20 cents. Shares fell $1.02, or 2.2 percent, to $45.40 in afternoon trading.
*Sets quarterly dividend of $0.25 per share.
*Illinois, Montana refineries down for work. CALGARY, Alberta, Oct 2- Canadian crude prices strengthened on Tuesday, despite outages at some key U.S. refineries, after Syncrude Canada Ltd, one of the top to oil sands mining operations, reported lower production.