We could be on the verge of another major oil M&A boom like the historic one that brought Exxon and Mobil together. Mergers and acquisitions have the potential to shake up a market and send some stocks soaring, but the best industry plays aren’t all that obvious.

Angelos Damaskos argues that current prices are dismal news for the majors, shale oil producers and the oil sands.

Revenues in the reported quarter decreased to $12,917 million from the year-ago level of $15,470 million and missed our projection of $13,984 million.

Bulls showed renewed backbone last week and drew a line in the sand for the bears, buying with gusto into weakness as I suggested they would.

The federal government’s EIA report revealed that crude inventories jumped by 5.02 million barrels for the week ending Oct 3, 2014, more than expected.

December E-mini S&Ps (ESZ14 +0.34%) this morning are up +0.33% and European stocks are up +0.59% on positive carry-over from Friday's U.S. Sep payrolls report that showed the U.S. unemployment rate unexpectedly fell to a 6-year low.