Fuel Price Threat From Refining Reduction May Ease As Bids Grow For ConocoPhillips' Idled Trainer Facility
The death of a ConocoPhillips (NYSE: COP) refinery in Pennsylvania may be avoided as bidders line up to buy the idled plant.
Gas Prices Rising 2012: Diesel Exports May Drive Them Higher
Increased profit margins for diesel fuel exported over the past five years have boosted U.S. diesel production and tightened domestic gasoline supplies, contributing to rising gasoline prices in 2012.
Markets Sell Off Despite Positive Jobs Data: Daily Markets Wrap
Positive jobs data from the U.S. and Germany were not enough to keep investors bullish Thursday, as a moderate asset sell-off continued, with traders apparently squaring up their positions in anticipation of earnings season.
Oil Drops After Saudi Oil Minister Says Prices Are Too High
We want to correct the myth that there is, or could be, a shortage, Ali al-Naimi wrote, noting fears of a global oil shortage. It is an irrational fear, a fear without basis.
Gold Prices Slip Below $1,660
Gold prices slipped below $1,660 an ounce in Europe on Thursday, extending their retreat from two-week highs into a third session, as the dollar recovered from a near one-month low and crude oil prices turned lower.
Asian Markets Dip On U.S., China Growth Worries
Asian shares eased for a second day in a row Thursday, as investors limited their risk exposures on concerns about growth prospects in the world's two largest economies, the United States and China.
Stocks Tank on Lackluster Data, Commodities: Daily Markets Wrap
Stocks fell Wednesday as investors were disappointed by a weaker-than-expected reading on durable goods orders, while a plunge in oil prices dragged energy and material shares lower.
Oil and Gas Industry Can Increase Profits While Reducing Methane Emissions, NRDC Says
While the U.S. oil and natural gas industries are reaping astronomical profits now, they could increase them even more if companies weren't so wasteful, the Natural Resources Defense Council said.
BP Enters Utica Shale, Leases Large Swath of Ohio
British oil giant BP is expanding gas drilling in Ohio despite the continuing decline in gas prices.
Oil Drops as US, UK and France Mull Sales From Strategic Reserves
France and the U.K are in talks with the U.S. to release oil from the nations' strategic oil reserves in response to rising gas prices, reports said Wednesday.
Stocks Slip, Yields Edge Up: Daily Markets Wrap
Window dressing, the practice of stock fund managers buying up top performers as the quarter ends to boost the appearance of success, failed Tuesday to lift the major indexes into positive territory.
US Senate Votes To Start Debate On Ending Subsidies For Big Oil
Despite Monday's 92-4 vote, Republicans are likely to kill the bill later this week if, as expected, they're not allowed by the Senate's Democratic leadership to propose amendments.
Wall Street Cheers Bernanke Comments: Daily Markets Wrap
Stocks surged Monday after Federal Reserve Chairman Ben Bernanke suggested the U.S. central bank would continue its present monetary policies and keep interest rates low, offsetting soft readings on the domestic economy.
Activists Protest At South Korea Nuclear Summit
As heads of state gathered for talks, demonstrators chanted: No nukes Asia, no nukes Korea, No nukes [America], no nukes anywhere! Many cited the disaster at power plants hit by the March 2011 earthquake and tsunami in Japan as proof of nuclear power's inherent risks.
Trade Group's Ad Campaign to Lobby Against Key Senate Vote
The American Petroleum Institute launched a new ad campaign to battle against a U.S. Senate vote to eliminate oil tax breaks.
Senate Big Oil Tax Vote 'A Trojan Horse' For Industry and U.S. Economy, Oil Group Says
The American Petroleum Institute, the country's largest oil industry backed trade group, slammed the U.S. Senate as it readies to vote to eliminate tax breaks for oil companies.
US Futures Gain Ahead Of Pending Home Sales Data
Futures on major U.S. stock indices point to a higher opening Monday ahead of pending home sales data and a speech by Federal Reserve Chairman Ben Bernanke.
US Stocks Edge Up On Hopes For Fed Action
Wall Street's gains came after positive remarks on the U.S. labor market by Federal Reserve Chairman Ben Bernanke and upbeat economic data from Germany that offset a soft reading on the U.S. housing market.
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Sinopec's 2011 Profit Rises 2% On Higher Oil Prices, Fuel Sales
China Petroleum & Chemical Corp. (Sinopec) announced on Sunday a 2 percent rise in profit for the year 2011 thanks to higher oil prices and increasing fuel sales.
US Economic Snapshot: How Are We Doing?
Analysts, economists, and market participants were concerned with three things this week, and three things only: inflation, inflation, and inflation.
Weak US Home Sales Add To Recent Downbeat Data: Daily Markets Wrap
A surprisingly weak U.S. new-home sales report Friday exposed the vulnerability of the nation's economic recovery and renewed hopes -- or fears, depending on one's views -- that the Federal Reserve will expand its balance sheet for a third time by purchasing more bonds.
Senate To Vote Monday To Axe Big Oil Tax Incentives
The U.S. Senate is scheduled to vote Monday on whether or not to do away with tax breaks for the largest oil and natural gas companies.
UK Gas Prices Reach Record High
Figures from industry analysts Experian Catalist showed drivers were paying an average £1.42 a liter, as fears over Iranian supplies have seen the price of crude oil soar more than 12 percent since January.
Sanders Bill Would Curb Wall Street Energy Speculation
Sen. Bernard Sanders (Independent-Vt,), introduced a new law this week to curb speculation in oil futures.
Dow, S&P 500 edge higher on energy strength
Stocks mostly inched higher on Friday as rising energy shares offset early weakness, though the S&P 500 remained on track to break a five-week streak of gains.
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