Halliburton (HAL) (END) (CXPO) (KMP) Close Up as Oil Prices Pull Back

Oil prices will probably keep climbing toward the highs of 2008 as growing demand isn't matched by additional supplies and the price jump has been slow to cut into consumption, as Endeavour International (NYSE:END), Crimson Exploration (NASDAQ:CXPO), Kinder Morgan Energy Partners (NYSE:KMP) and Halliburton (NYSE:HAL) closed up Monday, April 25.

The front-month Brent crude-oil futures contract, the London benchmark, pulled back from a 2½-year high of $127 a barrel on April 11, amid concerns that soaring prices are hurting demand. It settled at $123.66 a barrel on Monday, up 5.4 percent so far in April. The front-month June contract on the New York Mercantile Exchange pulled back one cent to $112.28, still up 5.2 percent this month and 23 percent in 2011.

Benchmark crude for June delivery dropped a penny to settle at $112.28 a barrel on the New York Mercantile Exchange. In London, Brent crude fell 33 cents to settle at $123.66 a barrel on the ICE Futures exchange.

In other Nymex trading, heating oil was down 1.73 cents to settle at $3.1989 a gallon and gasoline futures increased a little less than a penny to settle at $3.2785 a gallon. Natural gas dropped 2.3 cents to $4.389 per 1,000 cubic feet.

BP (BP) (PBR) (BEXP) (SLB) Close Up as Oil Prices Explode

Shares of Petrobras (NYSE:PBR), Brigham Exploration (Nasdaq:BEXP), Schlumberger (NYSE:SLB) and BP (NYSE:BP) closed up on Wednesday as oil prices surged in response to news oil inventories unexpectedly dropped.

Oil prices exploded on Wednesday to roar above the $111 a barrel mark, as the U.S. Energy Information Administration announced oil inventories fell by 2.3 million barrels for the week ending April 15.

On the New York Mercantile Exchange, May delivery for West Texas Intermediate crude rose $3.17 or 2.93 percent to reach $111.45 a barrel.

The weakness of the U.S. dollar helped boost a number of commodities, including oil, as the U.S. dollar index dropped 0.91 on Wednesday.

Home heating oil prices increased 6.29 cents to $3.2214 a gallon. Reformulated blendstock gasoline prices rose 4.42 cents to $3.2773 a gallon.

Henry Hub natural gas prices jumped 4.8 cents to $4.31 per million British thermal units.

The national average price of unleaded gasoline climbed to $3.837 a gallon Wednesday, up from Tuesday's $3.835, according to AAA.

BP Wednesday at $45.91, up $1.23, or 2.75 percent. Schlumberger closed at $87.89, gaining $1.76, or 2.04 percent. Brigham Exploration ended the trading day at $34.46, rising $1.20, or 3.61 percent. Petrobras closed at $37.84, jumping $0.75, or 2.02 percent.

Devon Energy (DVN) (XCO) (ECA) (SLB) Close Down as Oil, Gas Prices Fall

With anticipation the demand for crude oil and gasoline will drop because of high prices, Devon Energy (NYSE:DVN), Exco Resources Inc. (NYSE:XCO), Encana Corp. (NYSE:ECA) and Schlumberger (NYSE:SLB) all closed down Monday, as the overall sector was under pressure.

Crude-oil futures dropped Monday as investors were worried about the possibility for slowing demand for oil after debt-ratings company Standard & Poor’s slashed its outlook on the U.S. government’s credit rating which resulted in a move away from stocks and growth-leveraged commodities.

Benchmark light, sweet crude for May delivery fell $2.54, or 2.3%, to $107.12 a barrel on the New York Mercantile Exchange. That ended a three-day winning streak for oil.

Gasoline for May delivery on Monday was down 4 cents, or 1.1%, to $3.25 a gallon.

May heating oil fell 4 cents, or 1.3%, to $3.18 a gallon.

May natural gas was lower by 7 cents, or 1.6%, to $4.14 per million British thermal units.

Schlumberger closed Monday at $84.75, down $1.91, or 2.20 percent. Encana Corp. ended the day at $32.51, falling $0.44, or 1.34 percent. Exco Resources Inc. closed at $20.37, dropping $0.29, or 1.40 percent. Devon Energy closed at $86.19, losing $1.63, or 1.86 percent.

BP (BP) (APC) (COP) (XOM) Close Down as Oil, Gas Prices Fall

As perceptions that demand for crude oil and gasoline will drop because of high prices, shares of companies like BP (NYSE:BP), Anadarko (NYSE:APC), Conoco (NYSE:COP) and Exxon Mobil (NYSE:XOM) all closed down Monday, as the overall sector took a breather.

Crude-oil futures were down Monday as investors were worried about the possibility for slowing demand for oil after debt-ratings company Standard & Poor’s slashed its outlook on the U.S. government’s credit rating which resulted in a move away from stocks and growth-leveraged commodities.

Benchmark light, sweet crude for May delivery dropped $2.54, or 2.3%, to $107.12 a barrel on the New York Mercantile Exchange. That ended a three-day winning streak for oil.

Gasoline for May delivery on Monday was down 4 cents, or 1.1%, to $3.25 a gallon.

May heating oil fell 4 cents, or 1.3%, to $3.18 a gallon.

May natural gas was lower by 7 cents, or 1.6%, to $4.14 per million British thermal units.

Exxon Mobil closed at $83.10, down $1.19, or 1.41 percent. Anadarko ended the day at $77.38, falling $3.04, or 3.78 percent. ConocoPhillips closed at $77.61, dropping $1.51, or 1.91 percent. BP closed at $44.47, losing $0.49, or 1.09 percent.

Tesoro (TSO) (UPL) (VLO) (STR) Close Down as Oil, Gas Prices Fall

With anticipation the demand for crude oil and gasoline will drop because of high prices, Ultra Petroleum (NYSE:UPL), Tesoro Corporation (NYSE:TSO), Questar Corporation (NYSE:STR) and Valero Energy (NYSE:VLO) all closed down Monday, as the overall sector was under pressure.

Crude-oil futures dropped Monday as investors were worried about the possibility for slowing demand for oil after debt-ratings company Standard & Poor’s slashed its outlook on the U.S. government’s credit rating which resulted in a move away from stocks and growth-leveraged commodities.

Benchmark light, sweet crude for May delivery fell $2.54, or 2.3%, to $107.12 a barrel on the New York Mercantile Exchange. That ended a three-day winning streak for oil.

Gasoline for May delivery on Monday was down 4 cents, or 1.1%, to $3.25 a gallon.

May heating oil fell 4 cents, or 1.3%, to $3.18 a gallon.

May natural gas was lower by 7 cents, or 1.6%, to $4.14 per million British thermal units.

Valero Energy closed Monday at $27.08, down $0.46, or 1.67 percent. Questar Corporatio ended the day at $16.79, falling $0.34, or 1.98 percent. Tesoro Corporation closed at $26.08, dropping $0.46, or 1.73 percent. Ultra Petroleum closed at $47.369, losing $0.76, or 1.58 percent.

Exxon (XOM) (COP) (RDS-a) (CVX) Closed Mixed as Oil, Gas Continue to Climb

Exxon Mobil (NYSE:XOM), ConocoPhillips (NYSE:COP), Shell (NYSE:RDS-a) and Chevron (NYSE:CVX) traded mixed on Friday even as oil prices continue to rise, along with gasoline prices, which have risen on national average for 24 days in a row.

Benchmark West Texas Intermediate crude for May delivery on Friday climbed $1.55 to settle at $109.66 a barrel on the New York Mercantile Exchange. At one point it rose to $110.10. In London, Brent crude added $1.45 to settle at $123.45 a barrel on the ICE Futures exchange.

Gasoline Friday rose 5.45 cents to settle at $3.2892 a gallon. Natural gas dropped 0.8 cent to settle at $4.204 per 1,000 cubic feet. Heating oil increased 3.52 cents to settle at $3.2242 a gallon.

The average price of gasoline is now above $4 a gallon in five states, and it is about rise to that level in New York and Washington, D.C. over the weekend.

Chevron closed Friday at $106.24, gaining $1.36, or 1.30 percent. Royal Dutch Shell closed at $72.86, falling $0.50, or 0.68 percent. ConocoPhillips ended the day at $79.12, up $0.84, or 1.07 percent. Exxon Mobil closed at $84.29, rising $0.85, or 1.02 percent.

Shell (RDS-a) (RRC) (TAT) (MRO) Close Mixed as Crude Prices Rebound

Shares of oil and energy companies like Range Resources (NYSE:RRC), Shell (NYSE:RDS-a), TransAtlantic Petroleum (NYSE:TAT) and Marathon Oil (NYSE:MRO) closed mixed Wednesday as crude oil prices rebounded after two days of trading down.

Crude-oil futures were up Wednesday, gaining strength after a period of weakness midway through the day as investors focused on a supply report and hefty gains for gasoline futures.

Crude for May delivery was up 86 cents, or 0.8%, to settle at $107.11 a barrel on the New York Mercantile Exchange. Futures ended a two-day losing streak that had slashed almost 6 percent from prices on Friday.

The Energy Information Administration said crude oil inventories rose 1.6 million barrels for the week ended April 8.

The EIA reported a drop in gasoline inventories of 7 million barrels. Distillates supplies were down 2.7 million barrels.

Both figures showed deeper declines than projected. Analysts were looking for a decrease of 1.3 million for gasoline and unchanged stocks of distillates, which include diesel and heating oil.

Gasoline for May delivery increased 8 cents to $3.24 a gallon, also ending a two-session losing run and reaching the highest prices since Friday.

May heating oil was up 3 cents, or 1 percent, to $3.20 a gallon.

Marathon Oil closed Wednesday at $50.33, gaining $0.15, or 0.30 percent. Shell closed at $72.94, up $0.41, or 0.57 percent. Range Resources closed at $53.83, falling $0.20, or 0.37 percent. TransAtlantic Petroleum ended the session at $3.00, rising $0.04, or 1.35 percent.

Conoco (COP) (CAM) (STR) (XCO) Close Up as Crude Prices Rebound

Shares of oil and energy companies like ConocoPhillips (NYSE:COP), Cameron International (NYSE:CAM), Questar Corporation (NYSE:STR) and Exco Resources Inc. (NYSE:XCO) all closed up Wednesday as crude oil prices rebounded after two days of trading down.

Crude-oil futures were up Wednesday, gaining strength after a period of weakness midway through the day as investors focused on a supply report and hefty gains for gasoline futures.

Crude for May delivery was up 86 cents, or 0.8%, to settle at $107.11 a barrel on the New York Mercantile Exchange. Futures ended a two-day losing streak that had slashed almost 6 percent from prices on Friday.

The Energy Information Administration said crude oil inventories rose 1.6 million barrels for the week ended April 8.

The EIA reported a drop in gasoline inventories of 7 million barrels. Distillates supplies were down 2.7 million barrels.

Both figures showed deeper declines than projected. Analysts were looking for a decrease of 1.3 million for gasoline and unchanged stocks of distillates, which include diesel and heating oil.

Gasoline for May delivery increased 8 cents to $3.24 a gallon, also ending a two-session losing run and reaching the highest prices since Friday.

May heating oil was up 3 cents, or 1 percent, to $3.20 a gallon.

Exco Resources Inc. closed Wednesday at $20.78, gaining $0.01, or 0.05 percent. Questar Corporation closed at $16.88, up $0.22, or 1.32 percent. Cameron International closed at $53.57, rising $0.72, or 1.36 percent. ConocoPhillips ended the day at $77.66, jumping $0.50, or 0.65 percent.

BP (NYSE:BP) (RIG) (CVX) (HES) Close Mixed as Crude Prices Rebound

Shares of oil and energy companies like BP (NYSE:BP), Transocean (NYSE:RIG), Chevron (NYSE:CVX) and Hess Corporation (NYSE:HES) closed mixed Wednesday, as crude oil prices rebounded after two days of trading down.

Crude-oil futures were up Wednesday, gaining strength after a period of weakness midway through the day as investors focused on a supply report and hefty gains for gasoline futures.

Crude for May delivery was up 86 cents, or 0.8%, to settle at $107.11 a barrel on the New York Mercantile Exchange. Futures ended a two-day losing streak that had slashed almost 6 percent from prices on Friday.

The Energy Information Administration said crude oil inventories rose 1.6 million barrels for the week ended April 8.

The EIA reported a drop in gasoline inventories of 7 million barrels. Distillates supplies were down 2.7 million barrels.

Both figures showed deeper declines than projected. Analysts were looking for a decrease of 1.3 million for gasoline and unchanged stocks of distillates, which include diesel and heating oil.

Gasoline for May delivery increased 8 cents to $3.24 a gallon, also ending a two-session losing run and reaching the highest prices since Friday.

May heating oil was up 3 cents, or 1 percent, to $3.20 a gallon.

Hess Corporation closed Wednesday at $79.67, gaining $0.64, or 0.80 percent. Chevron closed at $103.81, down $0.37, or 0.36 percent. Transocean closed at $78.36, falling $1.15, or 1.45 percent. BP ended the day at $45.40, jumping $0.10, or 0.22 percent.

Fertilizers (POT) (AGU) (MOS) Drop as Commodities Correct

A general correction in commodities prices spurred by the plunge in oil prices pressured the agriculture sector as well, with Potash Corp. (NYSE:POT), Mosaic (NYSE:MOS) and Agrium (NYSE:AGU) all closing down Tuesday.

Crude oil prices for May delivery fell as much as 63 cents, or 0.6 percent, to $105.62 a barrel in electronic trading on the New York Mercantile Exchange. The contract was at $106.01 at 10:14 a.m. Sydney time. Yesterday, it fell $3.67 to $106.25. Prices dropped 5.9 percent on April 11 and 12.

The U.S. raised its crude-oil price projection for 2011 to an average $106.38 a barrel from $101.77 in March, according to the Energy Department’s Short-Term Energy Outlook.

Potash closed Tuesday at $56.13, falling $0.93, or 1.63 percent. Agrium closed at $89.12, down $1.55, or 1.71 percent. Mosaic closed at $76.67, dropping $1.53, or 1.96 percent.

Exco (XCO) (TSO) (VLO) (CHK) Crushed as Oil Corrects

A general correction in commodities as a result of the plunge in oil prices pressured the energy sector, with Tesoro Corporation (NYSE:TSO), Valero Energy (NYSE:VLO), Exco Resources Inc. (NYSE:XCO) and Chesapeake Energy Corp. (NYSE:CHK) all closing down Tuesday.

Crude oil prices for May delivery dropped as much as 63 cents, or 0.6 percent, to $105.62 a barrel in electronic trading on the New York Mercantile Exchange. The contract was at $106.01 at 10:14 a.m. Sydney time. Yesterday, it dropped $3.67 to $106.25. Prices fell 5.9 percent on April 11 and 12.

The U.S. increased its crude-oil price estimate for 2011 to an average $106.38 a barrel from $101.77 in March, according to the Energy Department’s Short-Term Energy Outlook.

Chesapeake Energy Corp. closed Tuesday at $31.93, falling $1.41, or 4.23 percent. Exco Resources Inc. closed at $20.77, down $0.14, or 0.67 percent. Valero Energy closed at $27.16, dropping $0.40, or 1.45 percent. Tesoro ended the session at $25.22, declining $0.43, or 1.68 percent.

Transocean (RIG) (RDS-A) (HAL) (APA) Crushed as Oil Corrects

A general correction in commodities prices as a result of the plunge in oil prices pressured the energy sector, with Transocean (NYSE:RIG), Shell (NYSE:RDS-A), Halliburton (NYSE:HAL) and Apache Corp (NYSE:APA) all closing down Tuesday.

Crude oil prices for May delivery dropped as much as 63 cents, or 0.6 percent, to $105.62 a barrel in electronic trading on the New York Mercantile Exchange. The contract was at $106.01 at 10:14 a.m. Sydney time. Yesterday, it dropped $3.67 to $106.25. Prices fell 5.9 percent on April 11 and 12.

The U.S. increased its crude-oil price estimate for 2011 to an average $106.38 a barrel from $101.77 in March, according to the Energy Department’s Short-Term Energy Outlook.

Transocean closed Tuesday at $79.51, falling $1.25, or 1.55 percent. Royal Dutch Shell closed at $72.53, down $1.95, or 2.62 percent. Halliburton closed at $45.34, dropping $1.59, or 3.39 percent. Apache Corp. ended the session at $122.40, declining $3.85, or 3.05 percent.

Renesola (SOL) (SOLR) (JASO) (LDK) Fall as Oil Corrects

A correction in commodities as a result of the plunge in oil prices pressured the solar sector, with GT Solar International (NASDAQ:SOLR) JA Solar Holdings (NASDAQ:JASO), LDK Solar (NYSE:LDK) and Renesola Ltd. (NYSE:SOL) all closing down Tuesday.

Crude oil prices for May delivery were down as much as 63 cents, or 0.6 percent, to $105.62 a barrel in electronic trading on the New York Mercantile Exchange. The contract was at $106.01 at 10:14 a.m. Sydney time. Yesterday, it fell $3.67 to $106.25. Prices fell 5.9 percent on April 11 and 12.

The U.S. boosted its crude-oil price estimate for 2011 to an average $106.38 a barrel from $101.77 in March, according to the Energy Department’s Short-Term Energy Outlook.

JA Solar Holdings closed Tuesday at $6.48, falling $0.11, or 1.67 percent. LDK Solar closed at $11.23, down $0.31, or 2.69 percent. Renesola Ltd. closed at $9.17, dropping $0.32, or 3.37 percent. GT Solar International ended the session at $9.78, declining $0.17, or 1.71 percent.

Mechel OAO (MTL) (MT) (X) (GGB) Drop as Commodities Correct

A general correction in commodities prices spurred by the plunge in oil prices pressured the steel sector as well, with ArcelorMittal (NYSE:MT), US Steel (NYSE:X), Gerdau S.A. (NYSE:GGB) and Mechel OAO (NYSE:MTL) all closing down Tuesday.

Crude oil prices for May delivery fell as much as 63 cents, or 0.6 percent, to $105.62 a barrel in electronic trading on the New York Mercantile Exchange. The contract was at $106.01 at 10:14 a.m. Sydney time. Yesterday, it fell $3.67 to $106.25. Prices dropped 5.9 percent on April 11 and 12.

The U.S. raised its crude-oil price projection for 2011 to an average $106.38 a barrel from $101.77 in March, according to the Energy Department’s Short-Term Energy Outlook.

Mechel OAO closed Tuesday at $28.58, falling $0.83, or 2.82 percent. Gerdau S.A. closed at $12.36, down $0.41, or 3.21 percent. ArcelorMittal closed at $35.80, dropping $0.72, or 1.97 percent. U.S. Steel ended the session at $50.52, declining $1.20, or 2.32 percent.

Encana (ECA) (BEXP) (SLB) (NOG) Crushed as Oil Corrects

A correction in commodities as a result of the plunge in oil prices pressured the energy sector, with Encana Corp. (NYSE:ECA), Brigham Exploration (Nasdaq:BEXP),
Schlumberger (NYSE:SLB) and Northern Oil and Gas (Amex:NOG) all closing down Tuesday.

Crude oil prices for May delivery dropped as much as 63 cents, or 0.6 percent, to $105.62 a barrel in electronic trading on the New York Mercantile Exchange. The contract was at $106.01 at 10:14 a.m. Sydney time. Yesterday, it dropped $3.67 to $106.25. Prices fell 5.9 percent on April 11 and 12.

The U.S. increased its crude-oil price estimate for 2011 to an average $106.38 a barrel from $101.77 in March, according to the Energy Department’s Short-Term Energy Outlook.

Brigham Exploration closed Tuesday at $32.41, falling $1.41, or 4.17 percent. Northern Oil and Gas closed at $23.54, down $0.97, or 3.96 percent. Schlumberger closed at $86.24, dropping $2.56, or 2.88 percent. Encana ended the session at $32.85, declining $0.46, or 1.38 percent.

Airlines (DAL) (UAL) (AMR) Jump on Lower Oil

The drop in crude oil prices today gave the airline sector a needed breather, as shares of Delta Air Lines (NYSE:DAL), United Continental Holdings Inc. (NYSE:UAL) and AMR Corp. (NYSE:AMR) were all making big upward moves in response to the positive move.

Crude prices were trading a little over $106 a barrel after closing on Friday over $112 a barrel.

The NYSE Arca Airline Index was also up today by 1.7 percent

AMR Corporation was trading at $5.895, up $0.1150, or 1.99 percent, as of 2:48 PM EDT. United Continental Holdings Inc. was at $21.81, gaining $1.28, or 6.26 percent. Delta Air Lines was trading at $9.94, rising 0.51, or 5.46 percent.

Halliburton (HAL) (APC) (APA) Down as Oil Prices Fall

After oil prices had been steadily rising recently, they pulled back on Monday, pushing down the share prices of giant energy companies like Anadarko (NYSE:APC), Halliburton (NYSE:HAL) and Apache Corp (NYSE:APA).

On the New York Mercantile Exchange, crude oil fell 3.3 percent or $3.77 to $109.04 a barrel. Reformulated blendstock gasoline prices was down 0.6 cents to $3.1945 a gallon.

According to AAA, the national average price of unleaded gasoline rose to $3.77 a gallon Monday from $3.761 on Sunday.

Apache Corp closed Monday at $126.25, falling $3.91, or 3.00 percent. Halliburton closed at $46.93, down $1.20, or 2.49 percent. Anadarko closed at $81.11, dropping $3.60, or 4.25 percent.

Exxon (XOM) (CVX) (COP) Drop as Oil Prices Fall

After oil prices continued at a steady upward climb recently, they pulled back on Monday, pushing down the share prices of giant producers like Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX) and ConocoPhillips (NYSE:COP).

On the New York Mercantile Exchange, crude oil was down 3.3 percent or $3.77 to $109.04 a barrel. Reformulated blendstock gasoline prices lost 0.6 cents to $3.1945 a gallon.

According to AAA, the national average price of unleaded gasoline climbed to $3.77 a gallon Monday from Sunday's $3.761.

ConocoPhillips closed Monday at $80.12, falling $0.67, or 0.83 percent. Chevron closed at $107.78, down $1.88, or 1.71 percent. Exxon Mobil closed at $85.15, dropping $0.79, or 0.92 percent.

Caterpillar (CAT), Chevron (CVX), Exxon Mobil (XOM) Support Dow on Otherwise Dismal Day

The performance of the Dow Jones Industrial Average would have been much worse than it was yesterday after shares of General Electric (NYSE:GE) and the Walt Disney (NYSE:DIS) company pulled the Dow down, as later in the session Caterpillar (NYSE:CAT), Chevron (NYSE:CVX) and Exxon Mobil (NYSE:XOM) moved up to offer some support to the index.

Chevron and Exxon moved up as the price of oil rose to over $101 a barrel. The energy sector was the only category ending Monday in the black, as crude prices rose.

Many other sectors and companies have significant exposure in Japan, including insurers like Aflac (NYSE:AFL) and uranium companies like Cameco (NYSE:CCJ).

Caterpillar closed Monday at $102.10, gaining $2.08, or 2.08 percent. Chevron closed at $100.80, up $0.87, or 0.87 percent. Exxon ended the session at $82.38, up $0.26, or 0.32 percent.

Boeing (BA) Gives Stocks a Boost

U.S. stocks advanced, snapping three consecutive days of losses, as shares of Boeing (NYSE:BA) surged and easing fears over supply helped crude-oil prices stabilize.

The Dow Jones Industrial Average rose 47 points, or 0.4%, to 12116. Boosting the measure, Boeing climbed 2.3% after the Air Force awarded a $30 billion tanker deal to the company late Thursday.

Intel (NASDAQ:INTC) was also strong, rising 2.8%.

Stocks rebounding as oil flattens as investors catch their breath. GDP revision comes in weak, and the economy still faces a nasty mix of headwinds. Kathleen Madigan, Kristina Peterson and Paul Vigna report.

The Nasdaq Composite climbed 1.2% to 2770. The Standard & Poor's 500-stock index gained 0.8% to 1316.

Helping to end the market's streak of losses, crude-oil futures stabilized as worries faded about supply shortages related to the unrest in Libya. Crude-oil prices hovered around $97 a barrel.

"We've seen some decent economic data in the consumer sentiment survey, [and] Saudi Arabia's announcement yesterday that they would meet any oil deficiency seems to have settled the markets quite a great deal," said Michael Farr, president of Farr, Miller & Washington. Investors were still eyeing oil closely for signs that energy costs could filter through in ways the market hasn't yet anticipated, Mr. Farr added.






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