This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Iran Tension Lifts Oil

Retail gasoline prices rose more than 25 cents in the Los Angeles metroplex after Exxon Mobil (XOM - Get Report) announced that production was cut at its 150,000 barrel-per-day refinery there, further heightening concerns over gasoline inventories.

"Bullish inventory figures were the primary cause of this week's hike in energy prices, rather than the geopolitical issues that were in the news," Schenker said. As evidence of this, Schenker pointed to the difference between Thursday's $2.08 increase in crude prices -- spurred by inventory concerns -- and the smaller gain to end the week following the worries about Iran.

"Daily volatility isn't important when analyzing trends in energy futures markets," Schenker said. "Look at what happens over a number of days, rather than only focusing on what happens in one trading day."

Meanwhile, energy stocks were mostly stronger at the close of trading. The CBOE Oil Index was up 0.6% at 652.36. ConocoPhillips (COP - Get Report) rose 0.9%, Chevron (CVX - Get Report) traded 1.1% higher, and Exxon added 0.9%.

Spectra Energy (SE - Get Report) was upgraded by BMO Capital Markets to outperform from market perform, and its stock gained 1.5% higher to $25.58.

Shares of Dominion Resources (DOM) were upgraded by A.G. Edwards to hold from sell, giving it a 7% lift to $25.82.

Among downgrades, Trans Canada Pipelines (TRP - Get Report) was cut by BMO Capital Markets to market perform from outperform, sending the stock down 0.8% at $33.53.
2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
COP $34.43 4.65%
CVX $85.99 3.75%
SE $29.74 0.75%
TRP $34.92 -1.63%
XOM $81.16 1.35%


Chart of I:DJI
DOW 16,027.05 -177.92 -1.10%
S&P 500 1,853.44 -26.61 -1.42%
NASDAQ 4,283.7530 -79.3910 -1.82%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs