Energy Sector Roundup: Crude Ends Near $141

Year-to-date gasoline assumption is down about 2 percent compared with the same period in 2007, according to the survey.

A macro-economic indicator, SpendingPulse reports on national retail sales and is based on aggregate sales activity in the MasterCard payments network, coupled with estimates for all other payment forms, including cash and check. MasterCard SpendingPulse does not represent MasterCard financial performance.

Citi Starts Oil Services Coverage

Citi Investment Research initiated coverage of oil services and equipment companies, saying that the industry's upturn is far from over.

"We believe that the industry upturn is still in its early-to-middle stages," analyst Robin Shoemaker said in a note to clients.

Shoemaker put "Buy" ratings on Schlumberger Ltd., Halliburton Co., Cameron International Corp. and National Oilwell Varco Inc., saying they "are likely to achieve above-average earnings growth through innovative technologies, focused acquisition strategies, and targeted expansions into new geographic markets.

Shoemaker rates BJ Services Co., Smith International Inc., Baker Hughes Inc. and Weatherford International Ltd. at "Hold."

IEA Sees Oil Supplies Barely Ahead of Demand

Oil supplies will remain tight despite record prices that have trimmed demand, according to the International Energy Agency.

Downsizing its estimate of how much oil will reach the market, the IEA predicted supply will exceed projected demand only by 2 million barrels a day.