On January 27, Enbridge Energy Partners announced its financial outlook and strategic update. Its implied volatility rose 34.5%, while its stock fell 17.6%.
On Monday, December 14, 2015, the EIA’s weekly gasoline and diesel fuel price updates showed that diesel fuel prices averaged $2.33 per gallon on the day.
The Alerian MLP ETF (AMLP) traded at a yield of 9.05% as the week ended September 25 wrapped up. The yield rose significantly during the week from 8.50%…
Prompt New York Harbor ultra-low-sulfur diesel futures traded on the NYMEX closed ~2.4% higher on a weekly basis at ~$1.62 per gallon in the week ended September 4.
The EIA reported that gasoline inventories rose by 0.5 MMbbls to 217.8 MMbbls in the week to June 12. Analysts expected inventories to fall by 800,000 barrels.
Gasoline demand increased from ~8.61 MMbpd to ~8.91 MMbpd last week. Gasoline inventories remain outside the five-year range despite the draw in inventories reported on Wednesday.
MPLX stock initially declined in September 2014. This is the starting point that we took for the comparison. It’s also when oil prices started declining rapidly.
Tesoro’s EV has grown ~28% to ~$10.5 billion at the end of 3Q14 from the end of 2007. It has been managing its debt levels very well in the context of its capital and overall size.
Over the last seven years, Tesoro’s capex saw a pattern that reflects the fortunes of the sector. Tesoro also made acquisitions that required it to spend well in excess of its CFO.
Tesoro’s assets increased ~65% from 2007 to 2013, driven by a massive $1.2-billion build in its cash reserves. Current assets doubled, and long-term assets took a ~46% bump.
Tesoro (TSO) operates six refineries spread mainly across the western United States, with a combined capacity to process ~850,000 barrels of crude per day (or bpd).
As expected, the midstream MLP sector presents our first positive showing in our analysis of the energy industry. TCP increased ~43% in the five months under review.
In December 2013, Tesoro Logistics closed its acquisition of Los Angeles logistics assets owned by Tesoro Corp’s (TSO) subsidiary, Tesoro Refining and Marketing Company LLC.
