BEAUMONT, Texas (Reuters) -Union workers locked out of their jobs at a Texas oil refinery for nearly...
BEAUMONT, Texas (Reuters) -Union workers locked out of their jobs at a Texas oil refinery for nearly 10 months voted on Monday to accept an Exxon Mobil Corp contract offer, ceding to a key company demand that it have the right to determine plant assignments.
About 600 United Steelworkers union members at the 369,024 barrel-per-day (bpd) refinery and Mobil 1 motor oil plant were locked out May 1 to preclude a wildcat strike, Exxon has said. The Beaumont, Texas, facility has continued to run since with managers and temporary workers.
Exxon said it was "thrilled" by the vote, adding employees would return to work "as soon as safely possible." The contract was made effective from Feb. 1, 2021.
U.S. home prices increased in December at their fastest rate in 34 years
The numbers: The ...
The numbers: The S&P CoreLogic Case-Shiller 20-city price index posted an 18.6% year-over-year gain in December, up slightly from 18.3% the previous month. On a monthly basis, the index increased 1.5% between November and December.
Meanwhile, the Case-Shiller national home price index demonstrated 18.8% growth between 2020 and 2021 in December, in line with November’s reading.
“This is the highest calendar-year increase in 34 years of data, and substantially ahead of 2020’s 10.4% gain,” Craig J. Lazzara, managing director at S&P DJI, said in the Case-Shiller report.
Black Stone Minerals (NYSE:BSM) Announces Earnings Results, Beats Estimates By $0.41 EPS
Black Stone Minerals (NYSE:BSM) issued its earnings results on Monday. The oil and gas...
Black Stone Minerals (NYSE:BSM) issued its earnings results on Monday. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.41, MarketWatch Earnings reports. Black Stone Minerals had a net margin of 30.37% and a return on equity of 19.55%. During the same period in the previous year, the firm earned $0.12 earnings per share.
BSM stock opened at $11.55 on Tuesday. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 42.78 and a beta of 1.27. The firm has a 50-day simple moving average of $11.17 and a two-hundred-day simple moving average of $11.28. Black Stone Minerals has a one-year low of $8.37 and a one-year high of $12.75. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.71 and a current ratio of 0.71.
The energy sector is poised for a mixed start, supported by outsized gains across the underlying commodities...
The energy sector is poised for a mixed start, supported by outsized gains across the underlying commodities but pressured by weakness in the major equity futures which fell slightly this morning, reversing much sharper declines earlier, as traders monitor brewing tensions between Russia and Ukraine.
WTI and Brent crude oil futures rebounded this morning following two-straight days of steep declines and rose to their highest since 2014 after Moscow ordered troops into two breakaway regions in eastern Ukraine, adding to supply concerns that are pushing prices closer towards the $100 mark. Russia's parliament approved treaties with two breakaway regions in eastern Ukraine today, opening the way for immediate Russian troop deployment. The moves come despite Germany putting the certification of the Nord Stream 2 gas pipeline on ice while the US and EU discussed potential sanctions and as Ukraine reported continued shelling in east Ukraine. The ongoing talking on renewing Iran's nuclear agreement with world powers kept a cap on gains.
Natural gas futures jumped roughly 3% this morning, backed by cold weather forecasts in key consuming regions that should spur demand and a spike in European prices
