Weekly Oil and Gas Notes: Exxon's Refinery Upgrade, BP's Oil Spill Liabilities

Oil and gas stocks trended lower last week, as global crude oil prices declined after Ukraine signed a ceasefire deal with pro-Russia rebels, taking the first step toward ending the five-month old conflict in eastern Ukraine. In addition, disappointing jobs data from the U.S., which is the world?s largest oil consuming nation, also aided the decline in oil prices.