Energy Financial

ConocoPhillips shares down as much as 2.4 per cent in early trading ConocoPhillips reported a surprising first quarter loss on Tuesday due to higher-than-expected operating costs. Analysts say Q1 results from the largest US independent oil producer reflect slow but steady improvement seen across the industry. The Houston-based company says its total realized price was $36.18/barrel of […]

Oil prices down 2.1 per cent Oil prices fell in trading on Tuesday as increased crude production in the United States, Canada and Libya overshadowed production cuts by OPEC and non-cartel members as well as an expected decline in US crude stocks.   Brent futures settled down $1.06 to $50.46/barrel and trading at its lowest day since November 29, US

Oil prices down over 1 per cent Oil prices fell over one per cent in trading on Monday as investors weighed rising crude output from the US and Libya against OPEC-led production cuts. Expectations for oil demand were also impacted by slower-than-expected growth in manufacturing in China as well as weakening confidence in the outlook for US

Oil prices little changed in Friday trading Oil prices remained steady in choppy trading on Friday on investors’ concerns about the possible extension of the OPEC supply cuts and the effectiveness of the cartel’s pact on global oil supply. US light crude was up by 19 cents to $49.16/barrel by 1:08 p.m. EDT, lower than the

Marathon Petroleum shares up in trading Thursday Marathon Petroleum posted a Q1 profit on Thursday thanks to a jump of 18 per cent in refining margins and despite difficult market conditions. Marathon’s shares were up as much as 4.1 per cent to $51.62 in trading on Thursday morning. Chief Executive Gary Heminger said market conditions in

Oil prices down over 1 per cent Oil prices fell over one per cent in trading on Thursday after it was reported that two key Libyan oilfields began pumping crude after pipeline protests in the African nation were shut down. Brent crude fell $1.22/barrel to $51.17 by 1:20 p.m. EDT and US light crude was

Hess Corp CEO: “We are poised to benefit from an increase in oil prices” Hess Corp reported a smaller-than-expected Q1 loss on Wednesday thanks to rising crude prices and cost cutting that helped the New York based energy company offset a drop in production. According to Hess, the company’s after-tax cash flow is increased by

Oil prices rise after EIA reports crude stocks down 3.6 million barrels Oil prices rose in trading after data released by the US Energy Department showed a larger-than-expected drop in US crude inventories. According to the US Energy Information Administration, crude stocks fell by 3.6 million barrels last week, doubling analysts’ expectations and helped boost