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UPDATE 2-Safety measures ordered for failed oil pipeline in California

LOS ANGELES, May 22- Owners of an oil pipeline that burst in California this week must take numerous corrective measures, including an in-depth analysis of factors contributing to the spill and a plan to fix any flaws found, before they can restart the line, U.S. safety officials said on Friday. The corrective action order issued on Thursday by the U.S....
Source: Reuters | By: Steve Gorman
Saudi Arabia rewrites its oil game with refining might

*Refining and trading could shift Kingdom's OPEC calculus. LONDON, May 22- Saudi Arabia's rapid transition into one of the world's largest oil refiners adds an extra dimension to the oil exporter's role as the driver of OPEC policy. When it attends OPEC's next meeting in two weeks, it does so with major new state-of-the-art oil refineries that can profit from...
Source: Reuters | By: Libby George and Ron Bousso
Pay up now, but gas is going to get much cheaper

Gasoline prices could creep to the highest prices of the year this weekend, but it will also be the cheapest Memorial Day for drivers in five years.
Source: CNBC.com | By: Patti Domm
Crude oil: Friend or foe?  

Is oil a friend or foe of the stock rally? The Fast Money panel discusses.
Source: CNBC.com
Financials, economy & Rite Aid lead trades to go

What the "Halftime Report" traders are watching during the second half.
Source: CNBC.com | By: Stephanie Landsman
UPDATE 1-Cleanup of oil-fouled California beach enters third day

SANTA BARBARA, May 21- Cleanup teams labored on Thursday for a third day to remove patches of crude petroleum that stained a California beach and fouled offshore waters from a pipeline rupture that may rank as the biggest oil spill to hit the Santa Barbara coastline in more than four decades. Environmental activists and local officials said it was believed to be...
Source: Reuters | By: Steve Gorman
Energy stocks cheapest in nearly 30 years: Analyst

Bank of America Merrill Lynch raised its opinion of stocks in the energy sector, recommending clients overweight the shares in their portfolios.
Source: CNBC.com | By: John Melloy
Around-the-clock cleanup effort under way on oil-fouled California beach

SANTA BARBARA, May 21- Cleanup teams labored on Thursday for a third day to remove patches of crude petroleum that stained a California beach and fouled offshore waters from a pipeline rupture that may rank as the biggest oil spill to hit the Santa Barbara coastline in more than four decades. Refugio State Beach and El Capitan State Beach, both popular seaside...
Source: Reuters | By: Alan Devall
Miles of beach blighted as oil cleanup continues

Houston-based Plains All American Pipeline said that in a "worst-case scenario," up to 105,000 gallons of oil spilled Tuesday, USA TODAY reports.
Source: USA Today | By: Michael Winter and Robert Hanashiro
Trading tech stocks: 5 plays on big movers

"Fast Money" traders discussed how to play some of the day's technology movers, including Alibaba and Hewlett-Packard.
Source: CNBC.com | By: Jacob Pramuk