Light Louisiana Sweet oil weakened relative to West Texas Intermediate as BP plc (ADR) (NYSE:BP) began crude production at an offshore platform in the Gulf of Mexico. LLS, the light, sweet benchmark crude on the Gulf Coast, weakened by 40 cents a barrel to a $5.50 premium over WTI at 1:51 p.m., according to data compiled by Bloomberg. BP plc (ADR) (NYSE:BP) stock opened at $50.73 in last trading session, and closed at $50.67, trading in the range of $50.43 – $51.02. The stock showed a positive weekly performance of 2.55%.
Eastman Chemical Company (NYSE:EMN)is expanding carboxylic acids capacity at its plants in Longview, Texas, and Kingsport, Tennessee, the company announced on Tuesday. The additional capacity is expected to be completed in the fourth quarter of 2014 and will add approximately 50 million pounds of carboxylic acids to support the increasing internal and external demand of the product. Eastman Chemical Company (NYSE:EMN) shares closed at $85.78 on last trade day, by gaining 2.01%. Stock 52 week range is $63.48 – $86.14. Company’s market capitalization is $13.20 billion.
Rockwood Holdings, Inc. (NYSE:ROC) average recommendation is overweight with average Target Price of $78.60. Rockwood Holdings, Inc. (NYSE:ROC) stock advanced 3.89% and finished the last session at $76.61. The EPS of the stock remained 0.80. Company’s market capitalization is $5.61 billion.
As per a media report, the oil and gas major Total SA (ADR) (NYSE:TOT) will be asked by the Gabonese tax officials to pay an arrear tax of $805 million, for activities undertaken by the company between 2008 and 2010. Gabon is a West African nation rich in oil and gas reserve but lacking in technical expertise and the capital required to fund exploration and drilling activities. So, to unlock value of its natural reserves, the Gabonese government had allowed TOTAL to explore its shores. Total SA (ADR) (NYSE:TOT) stock opened at $63.34 in last trading session and closed at $63.30. The 52 week range of the stock is $45.93 – $63.82 and the day range was $63.06 – $63.82.