A put spread on an energy ETF offers a way to profit if crude continues to fall back to Earth.

Fluor Corp., an engineering and construction company, said Thursday it had signed contracts worth $1.2 billion for expansion projects at Valero Energy Corp. refineries in St. Charles, La., and Port Arthur, Texas.

Ethanol producers such as Archer Daniels Midland Co. will be closely watching Thursday as the Environmental Protection Agency rules on a request from the governor of Texas to waive the ethanol mandate.

Transocean Inc., the world's largest offshore drilling contractor, said its second-quarter profits nearly doubled after buying smaller competitor GlobalSantaFe late last year.

Devon Energy Corp., the largest U.S.-based independent oil and gas producer, reported a 44 percent jump in second-quarter profits Wednesday, easily beating Wall Street expectations.

Shares of refiners soared Wednesday as crude prices continued their downward march on the New York Mercantile Exchange, helping to ease part of the burden on the recently troubled sector.