Ida dwindled to a tropical depression on Tuesday after crawling ashore in Alabama from the Gulf of Mexico, and oil operations in the Gulf were quickly returning to normal after being widely disrupted by the storm.
Stocks tumbled Friday, giving back all of the gains from the prior session, as worries about the recovery escalated after a pair of reports on the consumer and as the dollar rallied. The Dow shed 250 points, or 2.5 percent, but finished flat for the month.
Stocks tumbled Friday, giving back all of the gains from the prior session, as worries about the recovery escalated after a pair of reports on the consumer.
Friday, 30 Oct 2009 | Posted By:
Paul Toscano | Source: CNBC.com
Big movements in the price of oil can have significant effects in the general economy, and although the commodity is off its all-time highs, countries with the most oil within their borders are set for big profits as demand for crude continues to rise. With much of the world's existing reserves found in the Middle East, Gulf of Mexico and a few other locations around the globe, individual countries benefit incredibly from their surprisingly high concentrations of oil. With the most recent data from the Energy Information Administration, here are the countries with the biggest proven oil reserves. Click ahead for the list!
Friday, 30 Oct 2009 | Source: The Associated Press
Chevron says it pushed its way through a weak third quarter by pumping more oil out of the ground as prices recover from a severe plunge earlier in the year.
Friday, 30 Oct 2009 | Source: CNBC staff and wire reports
Third-quarter net profit for the second largest US oil company fell to $3.83 billion, or $1.92 per share, from $7.89 billion, or $3.85 per share, in the same quarter a year before
Futures indicated a lower open for Wall Street on Friday, the last trading day of October, after the Dow experienced its best day in 3 months Thursday after GDP data showed the world's biggest economy exited recession in the third quarter.
As the US economic recovery looms larger, the gray cloud that has hung over the stock market for so long is finally starting to fade. Here's four sectors likely to outperform in the months and year ahead.
Despite posting a 51 percent decline in profit Friday, Chevron's 11-percent increase in oil production offers an opportunity to investors, said Phil Weiss, senior energy analyst at Argus Research ... Read More
Despite a weak start to the last week of October, the Dow and S&P are now both up 2.58% and 0.85% for the month as of Thursday's closing session.... Read More