Led by Valero and Hess, the energy sector showed significant strength today. Valero Energy has been fueled by gas mileage legislation passed by Congress. Early in the trading day, there was significant action in the Valero calls as call/put ratio exceeded 3:1. Bullish comments from Jim Cramer as well as others did nothing to curb the enthusiasm in the sector. Hess …
OPEC influences BP oil sands deal
Written by Michael Vass When will oil prices break thru the $100 a barrel mark? That is a question that Europe and America are considering now, even as OPEC has decided to hold production levels steady, and the question of an American recession loom on the horizon. Though President Bush has taken action to halt the mortgage crisis, the demand and cost …