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The oldest refinery on the US East Coast will not be closing in August. The refinery’s owner, Sunoco Inc. (NYSE: SUN) today announced that it would form a joint venture with The Carlyle Group...
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When Delta Air Lines Co. (NYSE: DAL) agreed to buy an oil refinery from Phillips 66 (NYSE: PSX), the transaction underscored a shift that has been taking place in refinery ownership. Pure refiners...
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The three major US stock indexes opened higher this morning as despite weak data from the UK and higher debt yields on Eurozone sovereign debt. Spanish 10-year bonds rose to a record yield of 6.8%...
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Jon OggThese are some of the top analyst upgrades, downgrades and initiations seen in Wall Street research calls this Tuesday. Apple Inc. (NASDAQ: AAPL) Reiterated as Outperform with $675 price...
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The current drop in crude oil prices is putting a little more cash in the pockets of consumers at the expense of the big integrated oil and refining companies. The reason is fairly simple: there is...
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The major US stock indexes opened lower this morning following a weekend of elections in Europe. A new Socialist party president in France and a still very cloudy future in Greece have left investors...
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As of about 9:30 this morning, Brent crude is trading at its lowest price in three months, and the price differential between Brent and WTI crude closed to about $12/barrel last week before widening...
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Markets opened lower this morning but fought back on the day. This morning’s report new unemployment benefits claims tamped down enthusiasm among investors (our coverage here). US natural gas...
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Jon OggThese are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Thursday. Alcatel-Lucent S.A. (NYSE: ALU) Maintained Sell with $2.00 target at...
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Jon OggThese are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Friday. Aetna Inc. (NYSE: AET) Cut to Neutral at Goldman Sachs. Altria Group,...
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In a presentation yesterday to investors, Valero Energy Corp. (NYSE: VLO) CEO Bill Klesse said that stagnant demand for refined products in the US would be replaced by foreign demand for gasoline and...
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The proposed 1,700-mile Keystone XL pipeline will not make the US more energy independent nor will it lower gasoline prices. If anything, the pipeline from western Canada’s oil sands to the US Gulf...
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This morning’s report from the US Energy Information Administration (our coverage here) showed that commercial crude oil inventories in the US rose by 4.2 million barrels last week. At the same...
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Stocks started the day nearly flat before turning down on a poor report on US durable goods orders (more coverage here) and a slide in the Case-Shiller home price index (more coverage here). The...
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