ConocoPhillips Earnings Rise on Soaring Oil Prices
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The oil company said net income rose to $4.37 billion as record oil prices outweighed lower profits from gasoline production.
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High oil prices, combined with surging demand for oil products such as petrol, land BP another jump in profits.
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BP Plc, the world's second largest oil  company, beat analysts' expectations to report bumper third  quarter earnings on Tuesday on the back of high oil prices and  strong refining and chemicals margins.
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Stocks edged up on Thursday after higher-than-expected earnings from companies, including Bear Stearns and Costco, but climbing oil prices could keep gains in check.
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London - Oil prices climbed on Thursday, reversing some of the losses seen late the previous day as disruption to production in the Gulf of Mexico continued due to Hurricane Ivan.
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ConocoPhillips  posted higher  fourth-quarter earnings on Wednesday as record oil prices  outweighed lower profits from gasoline production.
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Shares rose the most in about a month yesterday as investors bet that falling oil prices would propel consumer spending and lift corporate profits while easing inflation.
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U.S. stock futures climbed on Tuesday, pointing to a higher market open, after strong profits from conglomerate Tyco International Ltd.  boosted investor optimism about company profits, and a jump in oil prices pushed up shares of Exxon Mobil Corp. .
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BP Plc, the world's second largest oil  company, reported bumper third-quarter earnings on Tuesday on  the back of high oil prices.
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Royal Dutch Shell Plc  posted a 2.6 percent rise in underlying quarterly profits on Thursday, beating analysts' forecasts, thanks to higher production and strong oil prices.
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World oil prices shot higher on Monday  as companies operating in the U.S. Gulf of Mexico braced for  output disruptions from powerful Hurricane Ivan.
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Exxon Mobil Corp., the world's largest  publicly traded oil company, on Thursday said quarterly profit  surged 56 percent, driven by soaring oil prices and strong  results from refining operations.
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ChevronTexaco Corp., the second- biggest US oil company, said third-quarter profit rose 62 percent on higher oil and natural-gas prices.
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High oil and gas prices and bigger profit margins in refining helped the British energy giant BP PLC nearly double its third-quarter earnings.
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Exxon Mobil Corp. XOM.N, the world's  largest publicly traded oil company, on Thursday said quarterly  profit surged 56 percent, driven by soaring oil prices and  strong results from refining operations.
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Exxon Mobil Corp  said on  Friday record oil prices boosted its fourth-quarter earnings to  $11.66 billion, the highest ever operating profit by a U.S.  company.
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Occidental Petroleum Corp. OXY.N,  among the top U.S. oil and gas producers, on Thursday said  quarterly profit shot up 70 percent, spurred by the dramatic  rise in oil and gas prices in recent months.