Magellan Midstream Partners LP (MMP) on Thursday reported a drop in second quarter crude transportation and terminals revenue, hit by lower fees for its services and a decline in storage demand. U.S. oil production has not recovered to its peaks even though prices have surged above $70 a barrel as producers focus on boosting shareholder returns and maintaining capital discipline.
Europe's top energy companies signalled confidence in a lasting recovery from the pandemic impact by drawing on higher oil prices to boost shareholder returns and reassure investors as they roll out risky climate strategies.
* U.S. Fed says economic recovery remains on track. * Iran blames U.S. for pause in nuclear talks. By Jessica Resnick-Ault. Oil prices rose on Thursday, notching further gains that pushed Brent past $75 a barrel the day after the U.S. government reported that crude stockpiles in the world's top oil consumer, fell to their lowest since January 2020.
* EIA reports 4.1 million barrel U.S. crude inventories drop. * Fed says economic recovery remains on track. * COVID still devastating in the Americas, health agency says. By Jessica Jaganathan.
* EIA reports 4.1 million barrel U.S. crude inventories drop. * Oil supply set to remain tight despite OPEC+ hike -analyst. * U.S. Federal Reserve leaves interest rates at 0% By Laura Sanicola.
Fujairah Oil Industry Zone on Wednesday published the
following weekly inventory data for oil products for the week ended July 26, according to
industry information service S&P Global Platts.
A trade group representing major U.S. passenger and cargo airlines and others on Tuesday asked the Federal Energy Regulatory Commission to take emergency action to address fuel shortages at Reno-Tahoe Airport in Nevada through August.
A trade group representing major U.S. passenger and cargo airlines and others on Tuesday asked the Federal Energy Regulatory Commission to take emergency action to address fuel shortages at Reno-Tahoe Airport in Nevada through August.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
Log In Required
