Page 8 - Devika Krishna News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 highest since Feb. 20 at $59.79. U.S. crude settled up 62 cents, or 1.1%, at $56.85, after reaching $57.29...

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 lockdowns and travel restrictions to contain the spread of the coronavirus. As vaccines are rolled out,...

(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 by favorable storage economics due to a market structure known as contango, where prices for oil in ...

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.