oil prices

oil rig

Why Schlumberger Will Fire 11,000

The announcement was simple and came as a part of Schlumberger Ltd.'s (NYSE: SLB) terrible first-quarter earnings announcement. The carnage of layoffs continues across the oil industry due to low crude ...
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Gas Can

Gas Moves Back Toward $3

Gasoline prices, based on the average for a gallon of regular, were $3.67 nationwide a year ago. In some parts of the country, including California, the price was closer to ...
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Railroad Oil Tank Cars

IEA Expects Oil Demand Will Rise

In another piece of news that could drive up oil prices, the International Energy Agency (IEA) revised its forecast for oil demand, and the revision calls for demand to go higher. ...
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downgrade

Why 2 Major Analysts Downgraded BP in 2 Days

Even long after the Gulf oil spill, BP PLC (NYSE: BP) has had a rough run of things. It does not help that two analysts are making near identical calls ...
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coal train

What Drove Norfolk Southern Earnings Lower

We have another warning in the transportation sector. In March, Kansas City Southern (NYSE: KSU) warned that it would have a weaker-than-expected first quarter due to lower fuel revenues. It ...
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Flag of OPEC

OPEC Attacks Oil Industry for Loss of 100,000 Jobs

The Organization of the Petroleum Exporting Countries (OPEC) says that unbridled competition within the oil industry has cost 100,000 jobs. However, that figure is not one OPEC has cited based ...
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oil-jack-pumps

Why Oil Stocks Will Get More Expensive

Has oil bottomed out yet and what would the picture in the Middle East look like if it has? Oppenheimer suggests that there will be an increased wave of mergers ...
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Oil spill

Short Sellers Stay Aggressive on Big Oil Stocks

The short interest data have been released for the most recent settlement date. It just so happens that some of the latest short interest readings for major oil companies are ...
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two dollars

Gas Prices Head Back Toward $2

The Energy Information Administration (EIA) issued a report suggesting gasoline prices will remain low through the summer months. The forecast of average gas prices was low enough that some portions ...
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PBR-logo

Petrobras Rescued by China and Scandal News Alike

The bribery scandal surrounding Petróleo Brasileiro S.A. (NYSE: PBR), or Petrobras, has plagued the company since last year. Now it looks like there is a new twist in this Brazilian ...
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oil rig and tanker

Despite Caution, 3 Top Oil Stock Picks From Wells Fargo

Having oil drop from $100 a barrel to under $50 has come with a price for the oil and gas players. Investors have felt the pain, while consumers have gotten ...
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Gas Can

Gas Price Still Above $3 in California

California suffers from a perfect storm of conditions that keep gasoline prices high. While most states have prices of an average gallon of regular below $2.50, California's is $3.21. In some ...
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Yemen Map

If Yemen Can Help Move Crude Prices, Here Is Its Economy by the Numbers

The stock market may have tanked on Wednesday, but geopolitical risk from Yemen was one of the excuses that was used for the rally in oil on this day. It ...
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186723229

Crude Oil Price Gains Despite Another Large Inventory Build

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories increased by 8.17 million barrels last week, maintaining a total U.S. commercial ...
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Oil spill

Short Sellers Get Even More Aggressive Against Big Oil Stocks

Oil prices are continuing to make a slight recovery on the last short interest report, but it seems that the industry has slid back, and common sense would say that ...
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