Producers, refiners post improved second-quarter 2010 earnings

09/27/2010
Stronger crude oil and product prices in the second quarter of 2010 lifted the combined earnings of a group of US and Canadian oil and gas producing companies and refiners from rather dismal results in second-quarter 2009.The second-quarter earnings of a sample of service and supply firms also climbed, up 9% from a year earlier, while their combined net income for the first half of this year declined 15% from first-half 2009.In this year's second quarter, front-month oil futures prices on the New York Mercantile Exchange jumped 33% from a year earlier to average $78.05/bbl.Product prices also were stronger than during last year's second quarter, despite a still-weak US labor market and pl...
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