ExxonMobil (XOM) (HAL) (SLB) (CVX) (NBL) Among Top 2012 Picks

With stability and predictability major considerations for 2012, energy companies are among the attractive investment candidates for the year, led by ExxonMobil (NYSE:XOM), Halliburton (NYSE:HAL), Schlumberger (NYSE:SLB), Chevron (NYSE:CVX) and Noble Energy (NYSE:NBL).

With the majority of investment advisors' top picks doing horrible last year, they're attempting to build out some credibility by focusing on and recommending large-cap stocks that don't have a lot of downside risk.

These of course inevitably include large energy companies which are assured of continuing demand like those mentioned above, which are all on the 2012 lists of many institutional investors.

Exxon Mobil was trading at $85.14, down $0.13, or 0.15 percent, as of 11:06 AM EST. Halliburton was at $34.25, up $0.46, or 1.36 percent. Schlumberger was at $67.68, gaining $0.27, or 0.40 percent. Chevron was at $106.85, falling $0.62, or 0.58 percent. Noble Energy was trading at $94.73, dropping $1.30, or 1.35 percent.

Schlumberger (SLB) (QLIK) (QEP) (ORA) Get New Coverage

Schlumberger (NYSE: SLB), Qlik Technologies Inc (NASDAQ: QLIK), QEP Resources (NYSE: QEP) and Ormat Technologies (NYSE: ORA) getting new coverage from analysts.

Jefferies (NYSE:JEF) initiated coverage on Ormat Technologies (ORA). They placed a “Hold” rating and a price target of $21.00 on the company.

Deutsche Bank (NYSE:DB) initiated coverage on QEP Resources (QEP). They placed a “Buy” rating and a price target of $49.00 on the company.

Evercore Partners initiated coverage on Qlik Technologies Inc (QLIK). They placed an “Overweight” rating and a price target of $30.00 on the company.

Global Hunter Securities initiated coverage on Schlumberger (SLB). They placed an “Accumulate” rating and a price target of $86.00 on the company.

Ross (ROST) (SLB) (CVX) (CSCO) (BEN) (JKHY) Upgraded

Ross Stores, Inc. (NASDAQ: ROST), Schlumberger (NYSE: SLB), Chevron (NYSE: CVX), Cisco Systems, Inc. (NASDAQ: CSCO), Franklin Resources, Inc. (NYSE: BEN) and Jack Henry & Associates, Inc. (NASDAQ: JKHY) upgraded by analysts.

Ross Stores, Inc. (ROST) was upgraded by Ticonderoga from a “Neutral” rating to a “Buy” rating. They have a price target of $85.00 on the company.

Schlumberger (SLB) was upgraded by Sanford C. Bernstein from a “Market Perform” rating to an “Outperform” rating.

Chevron (CVX) was upgraded by Oppenheimer from a “Perform” rating to an “Outperform” rating. They have a price target of $110.00 on the company.

Cisco Systems, Inc. (CSCO) was upgraded by Stifel Nicolaus from a “Hold” rating to a “Buy” rating. They have a price target of $17.00 on the company.

Franklin Resources, Inc. (BEN) was upgraded by Goldman Sachs (NYSE:GS) from a “Neutral” rating to a “Buy” rating.

Jack Henry & Associates, Inc. (JKHY) was upgraded by Avondale Partners from a “Market Perform” rating to an “Outperform” rating. They have a price target of $34.00 on the company.

NVIDIA (NVDA) (MCD) (PBR) (VZ) (SLB) (HON) Price Targets Changed

NVIDIA (NASDAQ: NVDA), McDonald’s (NYSE: MCD), Petroleo Brasileiro SA (NYSE: PBR), Verizon (NYSE: VZ), Schlumberger (NYSE: SLB) and Honeywell International Inc. (NYSE: HON) price targets adjusted by analysts.

UBS AG (NYSE:UBS) lowered its price target on NVIDIA (NVDA) to $16.50. They have a “Neutral” rating on the company.

UBS AG boosted its price target on McDonald’s (MCD) to $97.00. They have a “Buy” rating on the company.

Morgan Stanley (NYSE:MS) cut its price target on Petroleo Brasileiro SA (PBR) to $47.00. They have an “Overweight” rating on the company.

Credit Suisse (NYSE:CS) lowered its price target on Verizon (VZ) to $33.00. They have a “Neutral” rating on the company.

Howard Weil increased its price targeton Schlumberger (SLB) from $103.00 to $110.00. They have an “Outperform” rating on the company.

Sterne Agee lowered its price target on Honeywell International Inc. (HON) to $63.00.

Duke (DUK) (CF) (EXC) (BAS) (SLB) (TYY) Upgraded

Duke Energy Co. (NYSE: DUK), CF Industries Holdings Inc (NYSE: CF), Exelon Co. (NYSE: EXC), Basic Energy Services (NYSE: BAS), Schlumberger (NYSE: SLB) and Tortoise Energy Capital Co. (NYSE: TYY) upgraded by analysts.

Basic Energy Services (BAS) was upgraded by BMO Capital Markets from a “Market Perform” rating to an “Outperform” rating. They have a price target of $39.00 on the company, up from $25.00.

CF Industries Holdings Inc (CF) was upgraded by Dahlman Rose from a “Hold” rating to a “Buy” rating. They have a price target of $180.00 on the company.

Duke Energy Co. (DUK) was upgraded by Goldman Sachs (NYSE:GS) from a “Sell” rating to a “Neutral” rating.

Schlumberger (SLB) was upgraded by Societe Generale to a “Buy” rating. They have a price target of $108.00 on the company.

Tortoise Energy Capital Co. (TYY) was upgraded by Stifel Nicolaus from a “Hold” rating to a “Buy” rating. They have a price target of $28.00 on the company.

Exelon Co. (EXC) was upgraded by Bank of America (NYSE:BAC) from an “Underperform” rating to a “Buy” rating.

Dover (DOV) (SLAB) (SLB) (BAS) (GLF) (MCD) Price Targets Changed

Dover Co. (NYSE: DOV), Silicon Laboratories (NASDAQ: SLAB), Schlumberger (NYSE: SLB), Basic Energy Services (NYSE: BAS), Gulfmark Offshore (NYSE: GLF) and McDonald’s (NYSE: MCD) price targets adjusted by analysts.

Barclays Capital raised its price target on Dover Co. (DOV) from $68.00 to $72.00. They have an “overweight” rating on the company.

Barclays Capital raised its price target on Basic Energy Services (BAS) from $36.00 to $43.00. They have an “Equal Weight” rating on the company.

Barclays Capital raised its price target on Gulfmark Offshore (GLF) from $43.00 to $50.00. They have an “Overweight” rating on the company.

Barclays Capital raised its price target on McDonald’s (MCD) from $91.00 to $100.00. They have an “Overweight” rating on the company.

Needham & Company lowered its price target on Silicon Laboratories (SLAB) from $53.00 to $41.00. They have a “Buy” rating on the company.

Barclays Capital raised its price target on Schlumberger (SLB) from $106.00 to $110.00. They have an “Overweight” rating on the company.

Schlumberger (SLB) (HK) (BEXP) (BHI) (VLO) Close Up While Oil Drops

Schlumberger (NYSE:SLB), Petrohawk Energy Corp. (NYSE:HK), Brigham Exploration (NASDAQ:BEXP), Baker Hughes Incorporated (NYSE:BHI) and Valero Energy (NYSE:VLO) ended the session up Thursday, going against the tide of oil futures dropping after rising over $101 a barrel on Wednesday.

The economy of Barack Obama continues to fall apart as first-time unemployment claims soared by another 10,000, exploding past the projected decline of 4,000 economists had been loking for. That's a seasonally adjusted 424,000 for the week ended May 21.

The U.S. economy growth rate was also below expectations, increasing at a very anemic 1.8 percent rate in the first quarter, plunging from the 3.1 percent growth rate in the fourth quarter, and missing the 2.2 percent growth rate economists had estimated.

The U.S. Labor Department also upwardly revised initial unemployment claims from the last report they issued.

This all had an impact on oil prices, as oil futures ended lower on the day. Light, sweet crude for July delivery settled down $1.09, or 1.1 percent, to $100.23 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange settled up 12 cents, or 0.1 percent, to $115.05 a barrel.

Front-month June reformulated gasoline blendstock, settled up 3.21 cents, or 1.1 percent, to $3.0483 a gallon. June heating oil was up 0.26 cent, or 0.1 percent, to $2.9829 a gallon.

With the Memorial Day weekend coming in the U.S., which usually involves significant travel and gasoline used in vehicles, it probably went against the slightly lower price of oil and gas heading into the summer season.

Valero Energy closed Thursday at $26.42, gaining $0.16, or 0.61 percent. Baker Hughes Incorporated ended the day at $74.50, jumping $0.72, or 0.98 percent. Brigham Exploration closed at $30.77, climbing $0.40, or 1.32 percent. Petrohawk Energy Corp. ended the session at $25.76, up $0.16, or 0.62 percent. Schlumberger closed the day at $85.19, rising $1.10, or 1.31 percent.

Crimson (CXPO) (CRZO) (SLB) (TSO) (PTR) Trading Mixed

Shares of Crimson Exploration (NASDAQ:CXPO), Carrizo Oil & Gas (NASDAQ:CRZO), Schlumberger (NYSE:SLB), Tesoro Corporation (NYSE:TSO) and PetroChina (NYSE:PTR) were trading mixed today as oil prices were trading down in the session.

Crude-oil futures were trading down $0.79 to $97.65 a barrel on the New York Mercantile Exchange.

U. S. crude oil prices also gained some back from earlier losses spurred by comments from the German Bundesbank, which said growth in Europe's largest economy will probably slow down.

Shares of oil companies like BP (NYSE:BP), Anadarko (NYSE:APC), Transocean and Cameron International (NYSE:CAM), all of which were connected to the Gulf oil spill, were all trading up on news of the settlement between BP and Macondo Well partner Mitsui (OTC:MITSY).

PetroChina (PTR) was trading at $134.43, gaining $1.13, or 0.85 percent, as of 2:33 PM EDT. Tesoro Corporation (TSO) was at $23.96, down $0.11, or 0.46 percent. Schlumberger (SLB) was trading at $84.15, up $0.57, or 0.68 percent. Carrizo Oil & Gas (CRZO) was at $35.61, gaining $0.44, or 1.27 percent. Cameron International (CAM) was trading at $3.92, falling $0.01, or 0.25 percent.

Hess (HES) (RDS-A) (OIS) (PQ) (SLB) Trade Mixed as Energy Falls

Shares of Hess Corporation (NYSE:HES), Shell (NYSE:RDS-A), Oil States Intl., Inc. (NYSE:OIS), PetroQuest Energy (NYSE:PQ) and Schlumberger (NYSE:SLB) on Thursday as oil and gas were down on the day.

After the International Energy Agency expressed concerns about the effects of higher oil and gasoline prices on the global economy, oil fell in Thursday trading.

Benchmark crude for June delivery fell $1.63 to settle at $98.93 per barrel on the New York Mercantile Exchange.

June, heating oil fell 1.12 cents to settle at $2.8947 a gallon, gasoline dropped 2.95 cents to $2.926 a gallon and natural gas fell 10.5 cents to $4.161 per 1,000 cubic feet.

Hess Corporation (HES) closed Thursday at $78.08, gaining $0.89, or 1.15 percent.

Petrohawk (HK) (SLB) (NOG) (KOG) (OAS) Up on Lower Gas Inventory

Shares of oil companies Petrohawk Energy Corp. (NYSE:HK), Schlumberger (NYSE:SLB), Northern Oil and Gas (Amex:NOG), Kodiak Oil & Gas (Amex:KOG) and Oasis Petroleum (NYSE:OAS) were trading up today after a report from the Energy Information Administration saying gas inventory was up less than expected and oil inventory was flat.

Light, sweet crude West Texas Intermediate oil for June delivery is up $3.61 to $100.52 a barrel on the Nymex.

Brent crude July contracts rose $2.74 to $112.73 a barrel.

This could be an indicator that refinery demand may possibly be on the rebound.

MF Global wrote in a note to clients, “We think oil prices will continue to erode and we still think $90 is a reasonable short-term target on WTI, although short-term, we are getting a tad oversold and may be in for a bounce here.”

Oasis Petroleum (OAS) was trading at $28.02, gaining $1.37, or 5.14 percent, as of 2:38 PM EDT. Kodiak Oil & Gas (KOG) was at $6.36, up $0.37, or 6.18 percent. Northern Oil and Gas (NOG) was trading at $20.16, increasing $1.61, or 8.68 percent. Schlumberger (SLB) was at $83.48, rising $1.42, or 1.73 percent. Petrohawk Energy Corp. (HK) was trading at $24.20, jumping $0.45, or 1.89 percent.

Schlumberger (SLB) Trades Down as Oil Prices Drop

Schlumberger (NYSE:SLB) was under pressure as oil as gas prices fell Wednesday, dragging most of the energy companies down with them.

Brent crude settled down $5.06 at $112.57 a barrel, while U.S. crude futures dropped $5.67 to settle at $98.21.

Natural gas for June delivery settled 6.5 cents, or 1.5%, lower, at $4.181 per million British thermal units on the New York Mercantile Exchange.

The U.S. Oil Fund (USO) dropped 4.2 percent to closed at $39.35, the Energy Select Sector SPDR Fund (XLE) was down 2.9 percent to close at $74.28, and the U.S. gasoline fund LP (UGA) plunged 6.4 percent to close at $51.44.

Schlumberger Limited supply technology, integrated project management, and information solutions to the oil and gas industry around the world.

Schlumberger (SLB) closed Wednesday at $82.25, down $2.24, or 2.65 percent.

Schlumberger (SLB) (PQ) (KMP) (OIS) (PETD) Trade Mixed as Oil Prices Rebounded

Shares of Schlumberger (NYSE:SLB), PetroQuest Energy (NYSE:PQ), Kinder Morgan Energy Partners (NYSE:KMP), Oil States Intl., Inc. (NYSE:OIS) and PDC Energy (NASDAQ:PETD) traded mixed even as oil prices closed Friday in positive territory.

On the New York Mercantile Exchange, crude for June delivery on Friday settled at $99.65 a barrel, up 68 cents, or 0.69 percent, after trading in a range of $97.09 to $100.70.

For the week, front-month crude climbed $2.47, or 2.5 percent.

ICE Brent for June delivery settled at $113.83 a barrel, up 85 cents, or 0.75 percent, after trading in a range of $111.72 to $114.92. The Brent crude contract for July delivery was at 66 cents, or 0.6 percent higher on Friday, at $112.99. Last week, Brent crude jumped $4.70, or 4.3 percent.

The U.S. dollar index was up 0.8 percent higher at $75.72 as the euro was down 1 percent against the dollar at $1.411. On Friday, European officials said that Greece, Ireland and Portugal's sovereign debt problems may be worse than previously believed.

NYMEX June gasoline settled at $3.0744 a gallon, up 1.05 cents, or 0.34 percent, after trading in a range of $3.0342 to $3.1388.

For the week, front-month RBOB fell 1.57 cents, or 0.5 percent.

NYMEX June heating oil closed at $2.9422 a gallon, rising 2.85 cents, or 1 percent.

Front-month heating oil for last week was up 9.65 cents.

Schlumberger (SLB) closed Friday at $82.71, falling $0.81, or 0.97 percent.

Schlumberger (NYSE:SLB) Trades Up While Oil, Gas Rise

Crude oil, natural gas and gasoline prices jumped Tuesday, pushing up the share price of Schlumberger (NYSE:SLB) on the day.

Benchmark crude for May delivery rose $1.33 to settle at $103.88 a barrel on the New York Mercantile Exchange.

Heating oil jumped 3.94 cents to settle at $3.0012 a gallon. Gasoline futures climbed 10.13 cents to settle at $3.3797 a gallon, while natural gas for June delivery increased 8.7 cents to settle at $4.303 per 1,000 cubic feet.

Schlumberger supplies technology, integrated project management, and information solutions to the oil and gas industry around the world.

Schlumberger (SLB) closed at $84.49, rising $0.90, or 1.08 percent.

Vaalco (EGY) (SHI) (VLO) (SLB) (BEXP) Trade Mixed as Oil Prices Jump

Most oil and related companies performed strong Monday, as Vaalco Energy (NYSE:EGY), SINOPEC Shangai Petrochemical (NYSE:SHI), Valero Energy (NYSE:VLO), Schlumberger (NYSE:SLB) and Brigham Exploration (NASDAQ:BEXP) traded up as the price of oil rebounded.

Crude oil for June delivery climbed $5.37 to settle at $102.55 a barrel on the New York Mercantile Exchange, the largest one-day boost since February 22.

Brent crude for June settlement jumped $6.77, or 6.2 percent, to $115.90 a barrel on the London-based ICE Futures Europe exchange.

Wholesale gasoline prices soared 5 percent on Monday to $3.20 a gallon on fears that refineries in Mississippi may have to shut down because of the Mississippi River flooding.

The average U.S. price of a gallon of regular gasoline Monday fell by a penny to $3.96, according to AAA.

Immediate delivery futures of Texas crude oil rose $5.53 to $102.71 a barrel. Natural gas was up 0.06 cents to $4.17 per mbtu, while gasoline prices fell 20.17 cents to 329.18 cents a gallon.

Brigham Exploration (NASDAQ:BEXP) closed Monday at $29.34, gaining $1.01, or 3.57 percent.

Shares of (LUFK) (CRZO) (SLB) (APA) (BP) Trade Mixed as Oil Closed Down 15% Last Week

Companies exposed to oil and the industry traded mixed to end the week, as oil prices plummeted 15 percent last week, taking Lufkin Industries, Inc. (NASDAQ:LUFK), Carrizo Oil & Gas (NASDAQ:CRZO), Schlumberger (NYSE:SLB), Apache Corp (NYSE:APA) and BP (NYSE:BP), and others, down with it.

Light, sweet crude oil for June delivery on the New York Mercantile Exchange dropped $2.62 to settle at $97.18 a barrel, matching the eight-week low of March 15. The U.S. Oil Fund (USO) closed down 1.1 percent on Friday.

For the week, the June oil futures contract fell 14.7 percent to $113.93.

Light, sweet crude for June delivery fell $2.62, or 2.6%, to close at $97.18 a barrel on the New York Mercantile Exchange.

In London, Brent crude finished the day off $1.67 at $109.13 per barrel on the ICE Futures exchange.

Republicans went on the offensive against higher oil and gas prices by passing a bill to hasten the leasing process dragging on in the Gulf of Mexico as the Obama administration drag their feet on taking action. The bill would also require leasing to be allowed off the coast of Virginia.

According to Rep. Michael Burgess (R-Texas), the bill helped push down the price of oil as it sent a message to the market they're serious about the future supply.

All Obama has done so far has obsessed on the fantasy of green, clean or so-called alternative energy; a dubious matter at best, and at worst, ignoring what they country needs now and is available to it.

In other Nymex trading for June contracts, heating oil fell 4.12 cents to $2.8457 a U.S. gallon and gasoline futures were down 0.53 cents to $3.0901 a U.S. gallon. Natural gas fell 3.4 cents to $4.297 per 1,000 cubic feet.

Apache Corp (APA) closed Friday at $124.21, gaining $1.37, or 1.12 percent.

Exco (XCO) (FTI) (UPL) (CWEI) (RDS-A) Pressured as Oil Tumbles

Shares of oil and oil-related companies Transocean (NYSE:RIG), Flotek Industries, Inc. (NYSE:FTK), Whiting Petroleum (NYSE:WLL), Schlumberger (NYSE:SLB) and Tesoro Corporation (NYSE:TSO) were pressured Thursday as crude for June delivery dropped below the $100 a barrel mark.

Crude oil for June delivery was down $9.44, or 8.6 percent, to $99.80 a barrel on the New York Mercantile Exchange. The price has fallen 12 percent so far this week, declining every day of the week. Crude has soared 25 percent over the last year.

Gasoline for May delivery was down 22.71 cents, or 6.8 percent, to $3.0954 a gallon on the Nymex, the lowest settlement in five weeks. Gasoline has jumped 39 percent in a year.

Averaged across the nation, regular gasoline at the pump increased 0.3 cent to $3.985 a gallon on Wednesday, according to the website of AAA. That's highest price of gasoline since July 24, 2008.

Heating oil for May delivery was down 25.61 cents, or 8.1 percent, to $2.8869 a gallon on the Nymex. Heating oil has climbed 32 percent over the last year.

The New York Mercantile Exchange reported that oil futures settled at $99.80, down $9.44 or 8.6 percent on Thursday.

Government figures show gasoline demand in America has dropped about 2 percent over the last month, which added to rises in inventory, should push gasoline prices down again.

Exco Resources Inc. (XCO) closed Thursday at $20.29, dropping $0.06, or 0.29 percent.

Transocean (RIG) (FTK) (WLL) (SLB) (TSO) Pressured as Oil Tumbles

Shares of oil and oil-related companies Transocean (NYSE:RIG), Flotek Industries, Inc. (NYSE:FTK), Whiting Petroleum (NYSE:WLL), Schlumberger (NYSE:SLB) and Tesoro Corporation (NYSE:TSO) were pressured Thursday as crude for June delivery dropped below the $100 a barrel mark.

Crude oil for June delivery was down $9.44, or 8.6 percent, to $99.80 a barrel on the New York Mercantile Exchange. The price has fallen 12 percent so far this week, declining every day of the week. Crude has soared 25 percent over the last year.

Gasoline for May delivery was down 22.71 cents, or 6.8 percent, to $3.0954 a gallon on the Nymex, the lowest settlement in five weeks. Gasoline has jumped 39 percent in a year.

Averaged across the nation, regular gasoline at the pump increased 0.3 cent to $3.985 a gallon on Wednesday, according to the website of AAA. That's highest price of gasoline since July 24, 2008.

Heating oil for May delivery was down 25.61 cents, or 8.1 percent, to $2.8869 a gallon on the Nymex. Heating oil has climbed 32 percent over the last year.

The New York Mercantile Exchange reported that oil futures settled at $99.80, down $9.44 or 8.6 percent on Thursday.

Government figures show gasoline demand in America has dropped about 2 percent over the last month, which added to rises in inventory, should push gasoline prices down again.

Tesoro Corporation (TSO) closed Thursday at $24.27, dropping $0.62, or 2.49 percent.

Valero (VLO) (SLB) (STR) (PTR) Trade Down on Slowing Oil Demand

Oil companies and other industry-related companies PetroChina (NYSE:PTR), Questar (NYSE:STR), Valero Energy (NYSE:VLO) and Schlumberger (NYSE:SLB) all closed down Wednesday as oil prices took a breather.

Oil prices dropped after a government report showed that inventories are growing as demand softens in the U.S. Benchmark crude for June delivery was down $1.81 to settle at $109.24 a barrel on the New York Mercantile Exchange.

In other NYMEX trading for June contracts, heating oil fell 4.78 cents to settle at $3.143 a gallon, gasoline futures lost 0.69 cent to $3.3225 a gallon and natural gas was lower by 9.4 cents to $4.644 per 1,000 cubic feet.

The U.S. dollar index dropped 0.15 percent to $73.01, down from Tuesday's 73.127 close. The dollar index has fallen 7.5 percent so far in 2011.

PetroChina (PTR) closed Wednesday at $138.69, falling $2.38, or 1.69 percent.

Venoco Inc. (VQ) (NOV) (SLB) (SHI) (HAL) Trade Down as Oil Demand Falls

Decreasing demand for fuel has pushed down oil inventories and the price of oil, putting pressure on Venoco Inc. (NYSE:VQ), National-Oilwell Varco, Inc. (NYSE:NOV), Schlumberger (NYSE:SLB). SINOPEC Shangai Petrochemical (NYSE:SHI) and Halliburton (NYSE:HAL).

Light, sweet crude for June delivery settled down $2.47, or 2.2%, at $111.05 a barrel on the New York Mercantile Exchange. London Brent crude for June fell $2.67 to settle at $122.45 a barrel.

Front-month June reformulated gasoline blendstock, or RBOB, settled down $1.85 cents, or 0.6%, at $3.3294 a gallon. June heating oil lost 6.13 cents, or 1.9%, to settle at $3.1908 a gallon.

Gasoline prices on average across America have jumped to just under $4.00 a gallon, rising to $3.97 a gallon for regular gas, according to AAA.

Silver is considered the key catalyst for downward pressure on oil prices and trading, as it has become a proxy to some for risk appetite among commodity traders.

After selling out of silver commodity traders followed up with divesting of positions in oil as well.

Even so, it appears the slight strengthening of the U.S dollar played a bit role Tuesday as well.

Transocean (RIG) (DRQ) (HNR) (SLB) (PTR) Trade Down on Volatile Energy Day

On a volatile day for oil prices, shares of Dril-Quip, Inc. (NYSE:DRQ), Harvest Natural Resources (NYSE:HNR), Schlumberger (NYSE:SLB), PetroChina (NYSE:PTR) and Transocean (NYSE:RIG) closed down on the uncertainty following the death of Osama bin Laden.

Crude futures settled lower Monday after the death of Osama bin Laden stirred up oil markets, as traders attempted to measure the impact of the event on the stability in the Middle East.

Light, sweet crude for June delivery settled 41 cents, or 0.4%, lower at $113.52 a barrel on the New York Mercantile Exchange, in a volatile session that saw both two-and-a-half year highs near $115 a barrel and a decline to $110.82 a barrel.

Brent crude on the ICE futures exchange closed 77 cents lower at $125.12 a barrel.

Front-month June reformulated gasoline blendstock, or RBOB, settled 5.05 cents, or 1.5 percent down at $3.3479 a gallon. June heating oil settled 2.37 cents, or 0.7 percent lower at $3.2521 a gallon.

Transocean closed Monday at $70.44, dropping $2.31, or 3.18 percent.