|Day's Range||3.6000 - 3.6100|
The U.S. is warning Greece against hosting the Iranian oil tanker at the heart of an international dispute, and Saudi Aramco has reportedly chosen Lazard and Moelis as the investment firms to lead its IPO. Yahoo Finance's Jared Blikre has Tuesday's commodities report.
Norwegian behemoth Equinor (EQNR) started oil production from the Mariner field in the UK North Sea, while British supermajor BP plc (BP) inked a new JV in India to set up 5,500 petrol pumps.
Global oil and gas major BP has published its master sales and purchase contract templates for its liquefied natural gas (LNG) trading business and says it is the first of its peers to do so. Since the third quarter of last year, bids, offers and trades reported to pricing agency S&P Global Platts as part of its pricing process have become "significantly more homogenous with regards to the terms used," said Ciaran Roe, global director of the company's LNG division.
Global oil and gas major BP has published its master sales and purchase contract templates for its liquefied natural gas (LNG) trading business and says it is the first of its peers to do so. A BP spokeswoman did not reply to a Reuters query on the matter, but the company said in a press release earlier this year that it wants to promote efficiency in the rapidly growing LNG industry by disclosing its standard LNG trading terms. BP already has a standardised template - known as its general terms and conditions (GT&Cs) - for the sale and purchase of crude oil and refined oil products that is widely used by other companies as well.
After several years of people favoring growth names over value and dividend stocks, sentiment has switched gears. That's because people are looking for sources of yield again. With the Federal Reserve cutting rates once more, the safe sources of fixed-income yield are drying up.10-year treasury bond yields, for example have gotten cut nearly in half, from more than 3% at their recent peak to 1.7% now. Investors fear that yields will go even lower yet. It's not hard to see why. Just look at yields in places like Germany and Japan -- they're actually below zero for 10-year bonds. Some people are suggesting that the United States could get there too the next time a recession hits.Against that backdrop, conservative dividend stocks look like better and better alternatives to bonds for income investors. We saw a similar trend play out in 2015-16, with rate sensitive stocks soaring. Then, those gave way as the economy picked up steam and investors rushed back into big growth names like the FAANG stocks -- Facebook (NASDAQ:FB), Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL), Netflix (NASDAQ:NFLX) and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL).InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Stocks to Buy for a Dovish Fed Now, however, there's a sense that another sentiment shift may be upon us. The trade war in particular has taken a lot of punch out of the growth stocks. That makes it a great time to be looking for more conservative dividend stocks to buy today. Dividend Stocks to Buy: Exxon Mobil (XOM)Source: Shutterstock Dividend Yield: 4.9%After this latest round of selling, energy stocks are basically flat for the year, with the leading sector exchange-traded fund (ETF) trading back to where it was at the beginning of January. If you're a short-term trader, energy stocks have been a terrible place to be this year. But for dividend investors, the longer this slump drags on, the better.Take Exxon Mobil (NYSE:XOM) for example. XOM stock has gone essentially nowhere since 2005. The combination of plunging natural gas prices and the renewed weakness in crude oil scared everyone out of the sector. But with that mass departure comes opportunity.XOM stock is now nearly yielding 5%. That's its highest level since the early 1990s. It's hard to overstate how pessimistic folks have gotten on oil and gas. But for the big dogs with great balance sheets, like Exxon, this is their time to shine. They can buy up assets from struggling and bankrupt rivals for cents on the dollar, and wait for the cycle to turn. Exxon's management is now planning for aggressive growth at the same time, so many other firms are having to pull back. In fact, Exxon is looking to double cash flow and earnings over the next five years. If it can do so, Exxon stock stock will soar. And you get a more than 4.5% dividend yield while you wait. BP (BP)Source: Shutterstock Dividend Yield: 6.6%Exxon isn't the only energy stock worth considering thanks to the latest sell-off in energy shares. Dividend investors should also take a look at BP (NYSE:BP) stock at these prices. BP got itself into hot water ages ago with the Deepwater Horizon tragedy, and the stock has underperformed ever since then.But the company's liabilities associated with that are almost gone now. Meanwhile, the company has greatly cut costs, making itself profitable even in current low-energy-pricing conditions. * 7 Stocks Under $7 to Invest in Now Skeptics had suggested that BP stock would have to cut its dividend to get through this difficult period for oil and gas companies. Instead, BP was able to maintain its juicy yield and even give us a small dividend hike recently. It's worth remembering that the United Kingdom and U.S. have a tax arrangement that ensures investors pay no foreign dividend taxes on their British share holdings. This makes BP a nice option for dividend investors seeking to diversify their income streams beyond American sources.Finally, it's worth noting that a short-term bottom could be approaching for both Exxon and BP stocks here. That's because Saudi officials said Wednesday that they are considering options to support the price of oil here near the $50/barrel level for West Texas crude. Any meaningful support for the oil market could get XOM and BP shares moving higher again in coming weeks. Kraft Heinz (KHC)Source: Shutterstock Dividend Yield: 6%It has been a great year for consumer staples stocks. In general, the sector has moved sharply higher, and many stalwarts like Hershey (NYSE:HSY) are up 30% or more and hitting new all-time highs. However, not all staples stocks have blasted off.For example, there is Kraft Heinz (NASDAQ:KHC). Kraft Heinz suffered an unbelievable decline from a peak of $90 to $27 in just a few years. Despite involvement from investing legends including Warren Buffett and 3G Capital, Kraft Heinz imploded thanks to failing growth prospects and excessive leverage. Its latest underwhelming quarterly results have KHC stock in retreat yet again.But don't count out the condiments and packaged foods maker just yet. The company has sold off non-core assets and adjusted its capital allocation to shore up the balance sheet. Management is changing its branding strategy as well. And at these depressed prices, KHC stock is undervalued even compared to other struggling sector laggards, to say nothing of industry leaders like Hershey and McCormick (NYSE:MKC).Even assuming Kraft Heinz only gets back to comparable enterprise value/EBITDA and price-to-earnings ratios with other lower-tier packaged foods stocks, it should still trade back up to $40 from the current $27 valuation.And at this price, KHC stock yields 6%. In a world that is increasingly starved for meaningful yield, Kraft Heinz will become irresistible to income investors. As the negative press fades, Kraft Heinz stock will recover, delivering both big income and stock price upside for investors willing to step in at this juncture. Hormel Foods (HRL)Source: Shutterstock Dividend Yield: 2%Another solid choice in the staples industry at this point is Hormel Foods (NYSE:HRL) stock. Forget about vegan meat for a second, there's way more dividend potential in the real stuff. Hormel is known for its legacy SPAM brand, but it makes a great assortment of lunchmeats, bacon and canned meals as well. It has acquired natural and organic meat brands to appeal to millennial consumers in recent years. It has also diversified in organic nut butters, guacamole, Mexican salsas and other more youth-orientated products.Hormel stock enjoyed a tremendous run the last time interest rates plummeted a few years ago; HRL stock shot up 50% in six months. Since then, Hormel has traded sideways, however, as investors moved back out of dividend stocks. In fact, HRL is down 10% from its 2016 peak while earnings are up 25% over the same period. * 5 Cheap Stocks to Buy Now That the Fed Cut Rates With investors piling back into yield plays, however, Hormel Foods should soar to new all-time highs. The African swine fever has been a bump in the road. Higher pork prices have hurt margins. But as pricing reverts to normal in 2020, Hormel's earnings per share should soar above $2, supporting a $50 share price based on its historical median earnings ratio.Hormel is the lowest-yielding stock on this list, at 2%. But it is a dividend king with more than 50 years of consecutive dividend hikes. It has consistently grown its dividend (and its earnings) at more than 10% per year for decades now. This means that investors get a starting yield significantly higher than in bonds, with rapid increases to their income stream over time. With dividend aristocrats back in style, HRL stock is heading to new all-time highs. Molson Coors Brewing (TAP)Source: Shutterstock Dividend Yield: 4.4%Turning from food to beer, we have Molson Coors Brewing (NYSE:TAP) stock. The big macro-brewers have seen their stocks implode in recent years based on craft beer fears. And those were valid fears. But note the past tense. In 2018, U.S. craft beer grew just 3% overall, with many of the leading craft brewers showing outright decline in production. Arguably, craft beer over-expanded, and has now lost its cutting-edge trendiness.Meanwhile, there's still plenty of people that like macro beers, along with cheaper brews in general. The major beer companies still control more than 80% of the American market after all. And Molson Coors plays to both lanes; it owns leading craft brands such as Blue Moon to complement its mainstream holdings.Why buy TAP stock now though? For one thing, it's at multi-year lows. The North American beer market overall has been weak, so while the craft threat is fading, overall performance has still been rather modest. That said, Molson Coors has cut costs aggressively. This just allowed it to unveil a massive 39% dividend hike. Management didn't get the memo that Molson's business is in trouble, despite the sinking stock price. With that huge dividend hike, TAP stock is now yielding 4.4%, which makes it the highest-yielder in the U.S. beer and liquor space. With recession fears mounting, investors will warm up to this recession-proof income play soon. Wells Fargo (WFC)Source: Shutterstock Dividend Yield: 4.4%Investors hate bank stocks right now. In fact, other than energy, there's little that is more disliked at the moment. And with that comes opportunity. If you're bearish on the economy and think we're heading into a recession tomorrow, there's a good reason to avoid banks today; but the whole stock market is probably overvalued in that case. If things turn back up even slightly, however, banking shares should roar back.Why's that? Because interest rates have plummeted so rapidly since last year, the bond market is now pricing in the equivalent of six Fed rate cuts to the long end of the curve. If the economy continues performing reasonably well, the Fed will cut significantly fewer than six times in practice. As the rate curve heads back to more normal levels from current extremes, banks will benefit. Right now, people are pricing in a massive drop in profits for the industry going forward, but this could reverse on a dime. * 10 Cyclical Stocks to Buy (or Sell) Now Who wins? Wells Fargo (NYSE:WFC) stock is one obvious winner. Investors have shunned the bank since the account scandals a few years ago. But the bank has thrown out old management and moved on. Meanwhile, the stock price has gone nowhere for many years as capital piles up. This is allowing it to go on an aggressive shareholder return plan now.Wells Fargo is now paying a more than 4% dividend yield. On top of that, the company has authorization to repurchase more than 10% of its total outstanding float over the next year. Add it up, and the bank is offering a shareholder yield of nearly 15%. Throw in any improvement in the economic outlook, and we could see WFC stock rise 25% over the next year and pay a generous dividend along the way. PacWest Bancorp (PACW)Source: Shutterstock Dividend Yield: 7%The other banking dividend stock to consider today is PacWest Bancorp (NASDAQ:PACW), which offers a just over 7% dividend yield at the moment.Headquartered in Los Angeles, PacWest is a major player in the California market and currently sports a near $4.2 billion market cap. That puts it in a sweet spot, size-wise, where it may still be a buy out candidate, but it is large enough to manage the rising costs of regulation and banking technology costs.Despite the horrid state of the California housing market in 2008, PacWest survived the crisis. In fact, its shares never came close to zero during the panic. The bank has come out stronger, and is now generating record profits. Thanks to the corporate tax cuts in particular, PACW stock is now at a cheap P/E ratio of just 9.2 times its trailing earnings.At the time of this writing, Ian Bezek owned BP, PACW, WFC, KHC, MKC, HSY, HRL, and XOM stock. You can reach him on Twitter at @irbezek. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Monthly Dividend Stocks to Buy to Pay the Bills * 9 High-Growth Stocks to Buy Now for Monster Returns * 7 Healthy Dividend Stocks to Buy for Extra Stability The post 7 Safe Dividend Stocks for Investors to Buy Right Now appeared first on InvestorPlace.
Iraq's oil ministry said on Saturday it was still in talks with U.S. energy giant ExxonMobil over a major deal to improve the country's southern oil infrastructure. An agreement with Britain's BP and Italy's Eni was not part of the $53 billion, 30-year mega-project. It covered the building of two seabed oil pipelines for exports through the Gulf, the ministry said.
Royal Dutch Shell (RDS.A) stock has slumped 10.8% so far in Q3. Shell’s dividend yield has risen to 6.6%, the highest among its peers.
Editor's note: This story was previously published in May 2019. It has since been updated and republished.Google the question "What's considered a high dividend yield?" and you get more than 65 million results. That's because many investors are on the hunt for dividend stocks to buy that not only appreciate over time but also pay a high dividend. So what is a high-dividend yield stock? One that pays 1%? 3%? 5%? The truth is there is no strict rule. InvestorPlace - Stock Market News, Stock Advice & Trading TipsIf you are interested in high-yield dividend stocks, it's better to focus on a company's history of growing its dividend rather than just looking for the juiciest dividend yields. That's because dividend yields are often high due to some problem with the business that's knocked its share price lower. * 7 A-Rated Stocks Under $10 That said, if you can find a group of stocks that yield 5% and have demonstrated the ability to grow the annual payment over a decent amount of time, double-digit total returns won't be nearly as difficult to achieve.The trick is finding those stocks. Here are seven high-yield dividend stocks to buy with a payout of 5% or more that I believe can get the job done. BP (BP)The integrated oil and gas company has come a long way since the Deepwater Horizon oil spill in 2010. BP (NYSE:BP) currently yields 6.55%. It has paid a quarterly dividend for 34 consecutive quarters starting with a 42-cent payment in Q4 2010.Source: Shutterstock For 15 quarters between Q3 2014 and Q1 2018, it paid a 60-cent quarterly dividend, opting to retain more of its cash flow. With the September 2018 payment, BP increased its quarterly dividend to $0.6150 and has continued that right into 2019. In the past I have given InvestorPlace readers five reasons to own BP stock. Included in the mix was the company's projection that its free cash flow would grow from $1.8 billion to $24 billion by 2021. That projection was based on a $55 barrel of oil. In fiscal 2018, BP finished the year with $7.8 billion in free cash flow. It now expects to generate between $14-15 billion in free cash flow by 2021, down from its earlier projections, but much higher than where it was in fiscal 2016. It expects to achieve its free cash flow projection for 2021 by adding approximately 900,000 barrels of oil equivalent per day with many of the 16 projects required to add this capacity already underway. Icahn Enterprises (IEP)Love him or hate him, Carl Icahn sure knows how to make money for his investors, and Icahn Enterprises (NYSE:IEP) is next on our list of high-yield dividend stocks.Source: Steve Pisano via FlickrOver the past 15 years, IEP's annualized total return was 14.8% with approximately 43% of those gains from dividends. Currently yielding just under 11%, IEP increased its quarterly distribution to $2 a share.In 2018, Icahn's investment fund made 7.8% on the year, when most hedge funds lost money and the S&P 500 was also down. Although Icahn is in his 80s, he's still able to jump on the latest trends. * 10 Stocks to Buy on the Trade War Dip He might appear grumpy at times, but who cares when he delivers for shareholders. Brookfield Property Partners (BPY)Brookfield Property Partners (NASDAQ:BPY) invests in real estate. Whether we're talking office, retail, multi-family residential, self-storage, student housing, you name it, if there's money to be made, BPY is in the mix.Source: Shutterstock BPY acquired a 100% leasehold interest in 666 Fifth Avenue in New York in August 2018. The property, bought at the height of the real estate market, was Jared Kushner's money pit. He paid $1.8 billion for it. BPY took it off his hands for $1.3 billion. It plans to redevelop the building to bring up the rents and then hang on to it until the property is worth significantly more than the price Brookfield paid for it. Over the last five years, this high-yield dividend stock has completely reshaped its business, taking five publicly traded companies private, a move that kept a lid on its share price. As a result, the company's board's approved a $500 million substantial issuer bid to buy back its shares at prices between $19 and $21.AThe company offers a current yield of 6.9%. BPY is also affiliated with Brookfield Asset Management (NYSE:BAM), which owns 52% of the company. You could do a lot worse when it comes to high-yield dividend stocks. Cedar Fair (FUN)Who can resist a stock with the symbol FUN? Cedar Fair (NYSE:FUN) has been providing fun for kids and adults alike since 1870. Source: Jeremy Thompson via Flickr (Modified)It hasn't been a public company for 148 years, though. It went public in 1987. And a $10,000 investment in its IPO would be worth approximately $875,000 today. Its first park was in Sandusky, Ohio. Since then it's added ten additional amusement parks, two outdoor water parks, one indoor water park, and four hotels. The entire system welcomes close to 26 million guests each year generating more than $1.3 billion in annual revenue. The average guest spends almost $48 visiting one of its amusement parks spread across North America. * 10 Cyclical Stocks to Buy (or Sell) Now Set up as a publicly traded partnership, Cedar Fair pays out most of its profits tax-free to its unitholders. Since going public, it's paid out more than $2.6 billion in distributions to unitholders.Cedar Fair might not grow its revenues by double digits but its current yield of 7.18% more than makes up for its lack of growth, making it one of the best high-yield dividend stocks to buy. BCE (BCE)BCE (NYSE:BCE) could best be described as a Canadian version of AT&T (NYSE:T).Source: BCE, Inc. Canada's largest communications company, BCE generates 53% of its annual revenue from its wireline business, which includes broadband, TV, and voice, 36% from wireless, and the remaining 11% from Bell Media. Its media business includes 30 TV stations, 30 specialty networks, four pay-TV channels, 109 radio stations, and more than 200 websites. BCE aims to pay out between 65%-75% of its free cash flow annually. In 2018, it paid out CAD$2.68 billion for dividends, 6.6% higher than a year earlier. It currently yields 5.18%, 140 basis points less than AT&T. However, its long-term debt is just CAD$19.8 billion, less than 10% of Randall Stephenson's baby.BCE continues to be a stock for widows and orphans -- in other words, one of the safest high-yield dividend stocks. Brookfield Renewable Partners (BEP)The second of two Brookfield picks, you might think I have a thing for the Brookfield group of companies; and, you'd be right. Brookfield Renewable Partners (NYSE:BEP) is the renewable energy arm of Brookfield Asset Management, who own 60% of the company. Source: Shutterstock Of the seven high-yield dividend stocks on this list, BEP has the most risk and reward of the bunch. On February 8, the company announced its Q4 results. On the top line, it had $3.0 billion in revenue, 13.6% higher than a year earlier. On the bottom line, it had $403 million in net income, almost eight times higher than in 2017. On a cash flow basis, its funds from operations (FFO) increased by 16.4% to $676 million. So, where's the risk, you might be asking? Well, renewable energy projects aren't cheap. * 10 Generation Z Stocks to Buy Long In 2018, Brookfield finished the year with $10.7 billion in corporate and non-recourse debt. That debt comes with $6.5 billion in interest payments over the life of the obligations, 61% of which is due within five years.That said, all Brookfield companies bring to the table a level of conservatism to their investment practices, ensuring that your 5.53% dividend is most certainly money in the bank. Ford (F)Ford (NYSE:F) is currently yielding 6.3%, a mouth-watering number for any dividend investor. However, as anyone who follows the car company, an investment in the Detroit-based business comes with more than its fair share of risk.One of the risks is the company's CEO, Jim Hackett. I'm sure he's a fine man, but I've said many times in the past that he's the wrong person for the job.I argue that someone along the lines of General Motors' (NYSE:GM) CEO Mary Barra is what is needed to revive Ford glory. Ford Executive Chairman Bill Ford feels I'm 100% wrong about Hackett."I think the ability to hold the now, the near and the far all together at one time is something you don't always see in executives. And Jim (Hackett) has that," Ford told Reuters on the sidelines of the CERAWeek energy conference in Houston. "We're changing a lot. And change is difficult."It sure is. That said, I do believe if you're going to buy a stock under $10, Ford is the one to buy because it's not going out of business anytime soon despite the lack of innovation. As of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Cloud Stocks to Buy on Overcast Days * 6 Stable Stocks Worth Buying for Protection * 5 Active Vanguard Funds That You Have to Own The post 7 Winning High-Yield Dividend Stocks With Payouts Over 5% appeared first on InvestorPlace.
(Bloomberg) -- Indonesia’s PT AKR Corporindo is aiming to expand its gasoline station joint venture with BP Plc to as many as 350 outlets by 2027 to take advantage of a flurry of toll-road building across the archipelago.PT Aneka Petroindo Raya, set up by the two companies in late 2016, opened its first station last November and currently has nine outlets. The plan is to add as many as 20 to 25 stations before the end of this year and an additional 35 in 2020, said Suresh Vembu, AKR Corporindo’s business development and JV relationship director. The government’s $70 billion highway-building program will encourage Indonesians to make more long-distance car trips, he said.“You’re adding so many new cars, you’re adding more highways, people are driving,” Vembu said an interview in Jakarta on Tuesday. “Basically, the demand for gasoline in Indonesia is one of the fastest growing in the region.”President Joko Widodo, known as Jokowi, has announced plans to triple the length of Indonesia’s toll-road network to 5,400 kilometers (3,355 miles) by 2024, although there are questions about how the program will be funded. BP and AKR Corporindo are planning their expansion even as Indonesia considers a slew of incentives aimed at boosting the numbers of electric vehicles.BP expects to grow the gasoline station network together with its partner over the coming years, a spokesman for the London-based company said.The two companies are also setting up another joint venture to provide aircraft fuel, Vembu said. That business, called PT Dirgantara Petroindo Raya, will focus on serving the eastern part of the archipelago, he said.See also: BP, Reliance to Expand Partnership to Sell Transport Fuels in IndiaBP’s Indonesian initiatives are similar to what it’s doing in India, where it’s formed a joint venture with Reliance Industries Ltd. that will take over 1,400 Reliance-owned gasoline stations as well as aviation fuel operations at more than 30 airports. Meanwhile, in China, BP is focusing more on electric vehicles via a venture with Didi Chuxing Inc. to build charging infrastructure.AKR’s shares fell 1.9% as of 10:11 a.m. in Jakarta on Thursday as the Jakarta Composite Index rose 0.5%. They’re down 8.6% since Aug. 2, heading for the worst week since March, after the company reported a drop in first-half net income late last month.The Indonesian company is also focused on expanding its industrial estate business, according to Vembu. Several foreign firms have expressed interest in relocating some operations to its Java Integrated Industrial and Port Estate in Gresik, East Java, due to the deepening U.S.-China trade war, he said.PT Freeport Indonesia, a unit of PT Indonesia Asahan Aluminium and Freeport-McMoRan Inc., will develop a smelter in the business park. Industrial estates could easily make up 15% to 20% of AKR’s net income in the next three to four years, Vembu said.“We want to make the industrial estate as our recurring income source,” he said. “Roads have been laid, ports have been constructed and the power plants are already ready.” (Updates with AKR Corporindo share move in eighth paragraph.)\--With assistance from Rakteem Katakey.To contact the reporters on this story: Tassia Sipahutar in Jakarta at firstname.lastname@example.org;Harry Suhartono in Jakarta at email@example.comTo contact the editors responsible for this story: Ramsey Al-Rikabi at firstname.lastname@example.org, Andrew Janes, Thomas Kutty AbrahamFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Oil and gas production has grown steadily this year for Denver-based companies drilling in Texas and Oklahoma, but revenue hasn’t kept pace due to the price of oil and natural gas. Bigger profits from the oil growth have been harder to achieve.
BP p.l.c. (LON:BP.) is about to trade ex-dividend in the next 3 days. This means that investors who purchase shares on...
(Bloomberg) -- Russia’s contaminated oil crisis isn’t over yet -- at least not for the traders trying to find a home for the cargoes they unwittingly bought.BP Plc, the London-based oil giant, failed to find a purchaser for more than 700,000 barrels of Urals crude that got loaded onto a tanker almost three months ago at a port in the Baltic Sea, people with knowledge of a sales tender said Friday, asking not to be identified because the matter is private. The cargo has excessive levels of organic chlorides that could damage a refinery if not removed.In late April, it emerged that Russia was inadvertently sending millions of barrels laced with the contaminant through its Druzhba pipeline system to refineries across Europe, a situation that eventually caused flows to be halted. Some barrels also got sent to the port of Ust-Luga in the Baltic, where BP and other companies loaded them onto tankers.Russia’s pipeline operator Transneft said last month that it would pay $15 a barrel in compensation to Belarus for supplies sent by pipeline. Its eastern neighbor said recompense should not be dictated.It’s unclear what traders have been told about compensation. There was insufficient interest in the cargo for BP to be able to sell it, the people said. The shipment has an organic chloride content of about 29 parts per million. It needs to be less than 10. A spokesman for BP declined to comment.There are still about 5 million barrels of the tainted oil on tankers in northwest Europe, Singapore and other locations, according to traders and tanker tracking data compiled by Bloomberg. That represents about 40% of the roughly 12 million barrels that were on ships at one stage during the height of the contamination crisis.To contact the reporter on this story: Sherry Su in London at email@example.comTo contact the editors responsible for this story: Alaric Nightingale at firstname.lastname@example.org, Rachel GrahamFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The Zacks Analyst Blog Highlights: Apple, BP, Canadian National, Advanced Micro Devices and Sirius XM