Page 4 - Devika Krishna News Today

Oil prices fell for a second day on Friday, retreating further from recent highs, as Texas energy companies began preparations to restart oil and gas fields shuttered by freezing weather and power outages.

Oil prices climbed more than 2% on Friday, hitting the highest levels in more than a year on hopes a U.S. stimulus will boost the economy and fuel demand, as supplies tighten due largely to output cuts by top producing countries.

Oil prices climbed more than 2% on Friday, hitting the highest levels in more than a year on hopes a U.S. stimulus will boost the economy and fuel demand, as supplies tighten due largely to output cuts by top producing countries.

2 Min Read NEW YORK (Reuters) - Plains All American Pipeline LP reported a 35% drop in adjusted earnings before tax in the fourth quarter as transportation volumes on its pipelines fell amid lower oil prices and reduced drilling activity in the United States. Overall adjusted EBITDA in the fourth quarter fell by 35% to $559 million while adjusted EBITDA in the transportation segment declined by 15%. Oil prices plunged in 2020 as the coronavirus pandemic crushed global oil demand, prompting prod...

3 Min Read NEW YORK (Reuters) - Oil prices rose about 1% on Friday, after hitting their highest in a year and closing in on $60 a barrel, supported by economic revival hopes and supply curbs by producer group OPEC and its allies. Oil was also supported as U.S. stock markets hit record highs on signs of progress toward more economic stimulus, while a U.S. jobs report confirmed the labor market was stabilizing. Brent crude ended the session up 50 cents, or 0.9%, at $59.34 after hitting its highes...

3 Min Read NEW YORK (Reuters) - Oil prices rose about 1% on Friday, after hitting their highest in a year and closing in on $60 a barrel, supported by economic revival hopes and supply curbs by producer group OPEC and its allies. Oil was also supported as U.S. stock markets hit record highs on signs of progress toward more economic stimulus, while a U.S. jobs report confirmed the labor market was stabilizing. Brent crude ended the session up 50 cents, or 0.9%, at $59.34 after hitting its highes...

The United States Mint said on Tuesday it was unable to meet surging demand for its gold and silver bullion coins in 2020 and through January, due partly to pandemic-driven demand and plant capacity issues.

2 Min Read NEW YORK (Reuters) - Magellan Midstream Partners LP on Tuesday reported a drop of about 36% in net income in the fourth quarter as the COVID-19 pandemic reduced demand for refined products. The company also reported lower volumes and average rates on its crude oil pipelines, in part because several of its higher-priced contracts on the Longhorn pipeline, which flows from Crane to Houston, Texas, expired. Global fuel demand collapsed in 2020 as governments across the world imposed loc...

(Adds comments, details) NEW YORK, Jan 26 (Reuters) - Enterprise Products Partners LP exported a record of about 27 million barrels of natural gas liquids in December, co-Chief Executive Officer Jim Teague said during an industry conference on Tuesday. Crude oil exports are likely to grow and overall company results for 2020 are expected to be close to records hit in 2019, Teague said. “We’ve had a pretty darn good year,” he said, adding that the company’s earnings in 2020 were boosted ...

Oil prices edged higher on Thursday, boosted by a weak dollar and bullish signals from Chinese import data but pressured by renewed worries about global oil demand due to surging coronavirus cases in Europe and new lockdowns in China.