Tag: Oil Industry
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Crude-oil prices tally a gain of more 2% as recession fears ease
[ad_1] Oil futures gained more than 2% on Monday, finding support after U.S. benchmark crude prices snapped a four-day losing streak at the end of last week following a stronger-than-expected April jobs report. Natural-gas futures also finished up sharply, leading the percentage gains among energy futures, with analysts attributing the strength to a potential weather-related…
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Icahn Enterprises to distribute $2/unit, says it doesn’t face liquidity problems
[ad_1] Shares of Icahn Enterprises LP jumped more than 10% in extended trading Thursday after activist investor Carl Icahn said the company does not face liquidity problems and will declare a distribution of $2 per unit for the quarter ended March 31. In a statement to shareholders, Icahn said that Icahn Enterprises IEP would “normally”…
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Oil prices lose ground after back-to-back gains
[ad_1] Oil futures traded lower Tuesday, slipping after back-to-back gains as investors weighed recession fears versus upbeat data on Chinese travel. Price action Market drivers Oil prices “looked as if they were going to mount a rally before old banking worries reemerged,” said Phil Flynn, senior market analyst at The Price Futures Group, in a…
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Oil heads higher, but looks to post a 5% weekly tumble on demand worries
[ad_1] Oil futures headed higher on Friday, but remain on track to post a weekly loss for the first in five weeks as worries about the economic outlook stoked demand worries. Price action West Texas Intermediate crude for June delivery CL.1, +0.45% CL00, +0.45% CLM23, +0.45% climbed by 73 cents, or 0.9%, to $78.10 a…
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U.S. oil refiners looking at ‘record’ Q1 profits ahead of peak summer season
[ad_1] U.S. oil refiners are expected to report “record” quarterly profits during a traditionally weak season, analysts at BofA Securities said in a note Thursday, calling it a “golden age of refining.” The analysts on average raised their first-quarter earnings expectations for refiners by 9%, thanks to a “strong finish” for crack spreads, or the…