A spokesman says ExxonMobil has temporarily ceased oil production on three platforms off the coast of Santa Barbara because an oil spill last month crippled the pipeline it used to transport crude to refineries.
Bay Area drivers can anticipate a spike in gas prices after an explosion and fire at a major refinery in Southern California.
Apple’s stock broke above $500 for the first time Monday. It was the latest step in a rally that began more than two weeks ago, when the company reported staggering sales and profits for the holiday quarter.
Apple briefly surpassed Exxon as the most valuable U.S. company after an excellent quarter, though the oil company has regained the lead at the market’s close.
Investors seem to think you want an iPad more than oil, as Apple Inc. became the most valuable company in the United States, surpassing Exxon Mobil Corp. on Wednesday.
Apple briefly surpassed Exxon Mobil on Tuesday as the nation’s most valuable company.