An Overview of ONEOK’s and Magellan’s $18.8 Billion Deal
It was announced that ONEOK would purchase Magellan for $18.8 billion. This deal can place Magellan in the top 5 biggest US pipeline operators. Read more about its effects in this article.
It was announced that ONEOK would purchase Magellan for $18.8 billion. This deal can place Magellan in the top 5 biggest US pipeline operators. Read more about its effects in this article.
Oil prices extended the latest bull run for a fourth consecutive day despite prices having suffered through Tuesday trading after the API reported a larger stock build than expected. The move was primarily attributed to the Biden administration's announced plans to replenish the SPR later this year.
Oil prices hit a 5-week low on Tuesday due to US economic concerns, debt ceiling, and Fed's hike expectations. Major oil producers also reported mixed earnings, with Morgan Stanley cutting its Q3 forecast for Brent.
Oil prices dropped on Monday ahead of OPEC+ and Federal Reserve summits as well as uncertainty regarding Chinese demand.
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