Crude Prices Edge Ahead

Meanwhile, BP said profits for the quarter ended Dec. 31 fell to $2.88 billion from $3.69 billion in the same period of 2005. Revenue edged down to $62.5 billion from $63.6 billion. At the end of trading Tuesday, BP stock was down 53 cents to $63.26. Elsewhere, Anadarko Petroleum (APC Quote) reported that its profits more than doubled in the fourth quarter. However, the firm's jump in earnings was primarily due to the sale of a Canadian subsidiary. Anadarko's stock was down 48 cents to $42.47.

The stock price of energy provider Duke Energy (DUK Quote) fell 23 cents to $20.06 after the company announced diluted earnings per share of 31 cents in the fourth quarter, compared with 63 cents in the same period in 2005.