Investors are responding to the growing likelihood that a deal for federal stimulus won't happen before the November election.
News & Analysis: ConocoPhillips
After shunning M&A for years, ConocoPhillips found a deal that checks all the boxes.
The $9.7 billion all-stock deal makes Conoco a big player in the West Texas basin.
The battered oil industry still holds opportunity for investors.
The company is reportedly in talks to be acquired by ConocoPhillips.
The fossil fuel sector's gloom is getting on many investors' nerves.
The good news is that the cash is flowing back to shareholders instead of into drilling new wells.
Volatility upended these leading global producers last month.
With the oil market stabilizing, the company plans to resume repurchases.
Crude prices are crashing around the world as demand remains weak, and a global behemoth fights for market share.