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Europe stocks endeda half-session of trading flat, but finished the year with the first losses since 2002 as worries about the credit crunch and rising energy prices stymied action.

LONDON (MarketWatch) -- Europe stocks on Monday ended a half-session of trading steady, but finished the year with the first losses since 2002 as worries about the credit crunch and rising energy prices stymied action.

SAN FRANCISCO (MarketWtach) -- Stocks in the energy sector gained ground at the open Friday, turning higher on a rebound in the broad market and on another step up by crude-oil prices. Early action saw the Amex Oil Index rise 0.9% to 1,580, led by a 2% gain for Anadarko Petroleum Corp to a 52-week high. The Amex Natural Gas Index was up 1% at 581 and the Philadelphia Oil Service Index was up 0.8% at 307 points. Crude-oil for February delivery was up 84 cents at $97.46 a barrel in New York.

NEW YORK (MarketWatch) -- Crude-oil futures rose to trade above $97 a barrel, extending their gains from the previous session. Crude for February delivery gained 53 cents to $97.15 a barrel on the New York Mercantile Exchange. "Oil prices remain firm, after the assassination of Benazir Bhutto, Pakistan's former prime minister, which heightened concerns of further violence in the region," said analysts at Action Economics. "Crude oil prices are also supported by yesterday's report which showed that U.S. inventories declined more than expected last week."

NEW YORK (MarketWatch) -- Gold futures rose on Friday, continuing to benefit from safe-haven demand and dollar weakness. Gold for February delivery rose $5.90 to $837.70 an ounce on the New York Mercantile Exchange. Gold is "supported by safe haven flows after the assassination of Pakistan's former Prime Minister Benazir Bhutto," said analysts at Action Economics. "High oil prices and a weaker US dollar also support investment in bullion as a hedge against inflation."

AUSTRALIANS face holiday travel chaos, with refinery problems driving up petrol prices and possible industrial action restricting flights.

NEW YORK (MarketWatch) -- Gold futures rose early Friday, as weakness in the U.S. dollar boosted investment demand for the precious metal. Gold for February delivery gained $5.80 at $809 an ounce on the New York Mercantile Exchange. "Gold prices are higher on the back of speculation that the US dollar may weaken into 2008, which boosts the appeal of gold as a hedge against inflation and makes it cheaper for foreign investors," said analysts at Action Economics.

OIL prices fell yesterday after Kurdish officials said Turkish troops that entered Iraq early yesterday have returned to Turkey, reducing worries that the conflict would cut oil supplies from the region. Jamal Abdullah, a spokesman for the regional Kurdistan government, told The Associated Press that the Turkish troops had withdrawn. Earlier they had gone about 1 1/2 miles (2.5 kilometers) into northern Iraq in an operation against Kurdish rebels. The Iraqi government said it was an unacceptable action that would lead to "complicated problems." The threat of just such a Turkish incursion into Iraq was one of the many factors behind oil's rise to near US$100 a barrel in November. While oil futures have since retreated from those highs on a view that global supplies of crude are growing as demand is falling, concerns about supply disruptions remain high. Oil prices jumped more than US$2 earlier yesterday before news of the Turkish withdrawal "threw cold water on

NEW YORK (MarketWatch) -- Gold futures surged to trade above $800 an ounce early Tuesday, as rising crude-oil prices bolstered demand for the precious metal. Gold for February delivery rose $6.70 at $806 an ounce on the New York Mercantile Exchange. "Stronger oil has helped to underpin gold," said analysts at Action Economics. "As year-end approaches, traders warn of either high volatility or very quiet markets as trade volume decreases."

NEW YORK (MarketWatch) -- Gold futures edged lower early Monday, as falling crude-oil prices and firmness in the U.S. dollar lowered investment demand for the precious metal. Gold for February delivery fell $3.50 at $794.50 an ounce on the New York Mercantile Exchange. "Weaker oil and a stronger dollar weigh on gold, as a stronger dollar makes gold more expensive for foreign investors and also reduces the appeal of gold as a hedge against inflation," said analysts at Action Economics.

SAN FRANCISCO (MarketWatch) -- Treasurys bonds were lower Thursday, pushing up yields, after economic data showed better-than-expected November retail sales and a rise in wholesale prices of 3.2% the largest change since August 1973. Inflation erodes the return on fixed-income assets. "The acceleration in price pressurse and little sign that the consumer has been fazed by the credit turmoil or the surge in gas prices has taken a bite out of rate cut hopes," wrote analysts at Action Economics. The benchmark 10-year Treasury note was down 10/32 at 100 30/32, with a yield of 4.135%. The 30-year bond was down 20/32 at 106 22/32 with a yield of 4.584%. The two-year note was down 2/32 at 99 29/32 with a yield of 3.170%.

The OPEC oil cartel decided yesterday not to raise its official output targets, saying, in effect, that world supplies of oil were sufficient, despite prices that came within 61 cents of $100 a barrel on Nov. 21. In view of that decision, Newsday's Tom Incantalupo looks at what's ahead in the crude oil, gasoline and heating oil picture.

NEW YORK (MarketWatch) -- Energy stocks fell along with oil prices amid weakness in the overall market in early action Tuesday. The Amex Oil Index fell 0.5% to 1,430, with Valero weighing on the gauge after falling 1.4% to $64.54. The Amex Natural Gas Index dipped 0.4% to 539. EOG Resources dipped 0.8% to $82.10 as it led the index into the red. Oil futures fell 82 cents to $88.49 as comments from Opec about sufficient supply eased prices. Transocean fell 4% to $132.01 as the stock gave back recent gains on plans to raise $8.5 billion through debt and stock offerings. Devon fell 0.4% to $82.98 after it reconfirmed its oil and gas production forecasts for 2007, 2008 and 2009.

WASHINGTON (MarketWatch) -- Research at the Boston Fed suggests that the foreclosure crisis in subprime mortgages will get worse before it gets better, said Bank president Eric Rosengren on Monday. Just how much worse depends on the outlook for the economy and housing, he said. "Our forecast is quite dependent on how far home prices fall," Rosengren said. He urged community banks and states to focus on the 87% of subprime loans that are not seriously delinquent and where action may avoid future problems. Rosengren said he was not advocating any bailout, instead wanted to use "existing programs for what they were designed to do." Some of the programs administered by the Federal Housing Administration could be modernized, he suggested. Lenders should also consider extending the terms of current loans or refinancing.

NEW YORK (MarketWatch) -- Oil stocks rose along with the overall market on Friday even as crude prices retreated below $90 a barrel. The Amex Oil Index rose 0.4% to 1,422. Repsol SA added 2.1% to $37.31 as a leading gainer from the sector in early action. ConocoPhillips rose 2 cents to $78.84 after submitting a proposal for a natural gas pipeline originating in Alaska. Enbridge Energy Partners rose 1% to $52.03 and Enbridge rose 1.2% to $37.32 as the company's shares recovered from a pipeline explosion late Wednesday. Valero jumped 1.4% to $64.63 and Western Refining rose 5.4% to $28.70 after Bank of America upgraded the refiners to buy from neutral. Meanwhile, the Amex Natural Gas Index rose 0.6% to 542. Crude fell $1.68 to $89.33 ahead of an OPEC meeting next week.

NEW YORK (MarketWatch) -- Natural gas stocks and oil stocks rose in early action Thursday as traders mulled the impact of a pipeline explosion at an Enbridge Inc. facility in the Midwest and oil prices jumped. Crude prices rose $1.56 to $92.18, easing from earlier highs of $95.17 on the Nymex. Enbridge Inc. fell 2.8% to $36.76. Enbridge Energy Partners fell 3.6% to $51.55. The company confirmed the death of two employees in the pipeline blast late Wednesday at its Clearbook terminal in Minnesota. The company re-opened two lines out of four after a fire was extinguished. The company noted that at least one or two lines will be shut down until the damage can be inspected. Meanwhile, the EIA natural gas storage data is scheduled to be released at 10:30am E.T. The Amex Oil Index rose 0.5% to $7.28. The Amex Natural Gas Index rose 0.7% to 1,416. Exxon Mobil advanced 1% to $88.82.

NEW YORK (MarketWatch) -- Energy stocks rose in early action Wednesday ahead of the latest inventory data due out later in the session and as crude prices advanced on the heels of the latest comments by Opec about keeping production stable. The Amex Oil Index rose 0.7% to 1,390. The Amex Natural Gas Index added 0.5% to 537, with component Southwestern Energy jumping 2.7% to $50.91. Oil prices advanced 40 cents to $94.82 on the Nymex. OPEC reportedly has no plan to raise oil output when it meets next week in Abu Dhabi because the market is well supplied, Qatar's oil minister said. Meanwhile, analysts expect a 900,000 barrel decrease in weekly crude inventories to 312.7 million barrels. Gasoline stocks are seen rising by 600,000 barrels. Refiner Holly Corp. rose 1.8% to $47.45 after it was upgraded to outperform from market perform at Friedman Billings Ramsey. Coal producer Alpha Natural Resources Inc. rose 1.4% to $27.95 after it was upgraded to buy from neutral at UBS. Concho Resources Inc. fell 0.6% to $18.48 on plans to offer 10 million shares of its common stock.

NEW YORK (MarketWatch) -- Oil and gas stocks fell despite a recovery in the broad market as the energy sector followed crude futures prices down in early action Tuesday. The Amex Oil Index fell 1% to 1,376. Hess Oil was the biggest decliner in the group with a drop of 3.2% to $66.15. The Amex Natural Gas Index gave up 1% to 533. Oil services shares fell despite a 3.4% upward move by Transocean as it cleared its last regulatory hurdles to closing its acquisition of Global Santa Fe. Oil futures dropped $2.71 to $94.99 on the Nymex after Saudi Arabia confirmed it's boosted production and Iran signaled it has additional production capacity, according to press reports. Tesoro gave up another 3.5% to $48.23 after Tracinda pulled a $64 a share tender offer for the oil refiner.

THE World Bank said in a recent report that China's rising trade surplus was the main macroeconomic issue for the country and it needs to take more policy actions to contain its growth. The viewpoint coincided with the decision of the Ministry of Commerce, which treated the reduction of trade imbalance as its top priority. However, even the government paid tremendous attention to the sector. China's trade surplus hit a record high of US$27.05 billion last month, accelerating 13.5 percent from a year earlier. The combined figure through October increased 59 percent to US$212.3 billion, according to China's Customs. "The soaring trade surplus, which so far seems little affected by measures to contain export growth, constitutes the bulk of the rising balance of payment surplus," said the World Bank report issued on November 15. "This surplus is adding to domestic liquidity and contributing to steady asset price increases, share prices in particular." China's

SAN FRANCISCO (MarketWatch) -- Prices of most Treasurys were narrowly lower Friday, pushing yields up, in line with higher stocks prices in a thin trading session that will finish early. "The flight to safety in recent sessions has given a big lift to Treasuries, and rich levels, combined with a rebound in equities, motivated some selling pressure in fixed income markets," wrote analysts at Action Economics. The benchmark 10-year Treasury note was down 5/32 at 101 27/32, with a yield of 4.025%. The two-year note was down 3/32 at 101 2/32 with a yield of 3.061%. But the 30-year bond was up 5/32 at 108 29/32 with a yield of 4.454%.