I would like to have bought more under $40. But didn't want to catch a falling knife. Never would sell at those levels.
Crude extracted from the largest U.S. oil field weakened against the U.S. benchmark after producers lost access to Midwest markets when a 4,000-barrel spill in Louisiana forced the shutdown of a key pipeline.
West Texas Intermediate in Midland, Texas, weakened by 75 cents a barrel to a discount of $7 relative to the same grade in Cushing, Oklahoma, at 11:47 a.m., according to data compiled by Bloomberg. It’s the largest discount since Oct. 1. Midland is the pricing point for the Permian Basin, which produces about 1.76 million barrels of oil a day.
Sunoco Logistics Partners LP (SXL) shut a segment of its Mid-Valley Pipeline between Longview, Texas, and Mayersville, Mississippi, after it spilled as much as 4,000 barrels of crude last night, Travis Lawson, a spokesman for the Philadelphia-based company, said by phone. The Mid-Valley line delivers Permian crude from Longview to six states, including Ohio and Michigan.
“There’s no question that that’s going to contribute to weakness in West Texas crudes,” Andrew Lebow, senior vice president at Jefferies Bache LLC in New York, said by phone.
West Texas Sour, a medium-density, high-sulfur crude also priced in Midland, weakened by 65 cents a barrel to a discount of $5.75 to WTI in Cushing.
The Mid-Valley line carried about 228,000 barrels of crude a day through Louisiana in July, the most recent month for which data is available, according to the state’s Department of Natural Resources. Longview, in northeast Texas, is connected to the Permian by the Sunoco’s West Texas Gulf pipeline system.
After shutting the Longview-Mayersville segment following yesterday’s spill, Sunoco closed the entire Mid-Valley line this morning for 48 hours of planned maintenance because of a refinery turnaround, Lawson said.
This is the second time this year Sunoco has had to shut a section of the Mid-Valley because of a spill. The 20-inch pipe leaked 240 barrels of crude near Colerain Township, Ohio, in March.
"Is this why we are down?"
Does the war in the Mideast have something to do with this increase the last few weeks. I bought 10 days ago and am up $5.00 a share. Or does it have to do with that fact that we're producing more of own natural gas and are less dependent on foreign countries? Opinions are always welcome.
I got in this time at $43.00 just about a week ago. I have owned this stock over the years, and have always made money. Wish I'd always kept it. But I'm a happy camper with my recent buy.
It had a huge run-off before earnings. That is why it went up and few bucks and down where it was before the AH runoff because of the good earnings report. I don't think anyone was stupid enough to be after hours.
My Nexus tablet is great to play games with.... a quick email.... a look a Facebook. But whenever I really want to do any work or searching, I definitely prefer my laptop or my desktop.
I also agree. I have a Nexus tablet that I enjoy playing games on and looking at Facebook. But when I want to get research anything on the net I use my tablet. I use my desktop for work. The tablet is a fun toy but not necessary. However, I know real estate agents and insurance agents on the go use a tablet. There is a place for everything.
Should I buy before or after the split. I have owned this stock several times over the years, and have kicked myself I didn't hold on to it after the last 3 for1 split. Sold at a good profit, but wished I had held. Want to get in again, but am waiting for $90.00. Thinking of just buying it at this price.