Energy Sector Update for 05/19/2021: E, BP, LPG, MPC, XLE, USO, UNG

Energy stocks were declining pre-bell Wednesday with the Energy Select Sector SPDR (XLE) recently retreating by more than 2%. The United States Oil Fund (USO) was shedding more than 2% and the United States Natural Gas Fund (UNG) was slipping past 1%.West Texas Intermediate crude Source: Industry Insights

Marathon Petroleum Corporation (MPC) Ex-Dividend Date Scheduled for May 18, 2021

Marathon Petroleum Corporation (MPC) will begin trading ex-dividend on May 18, 2021. A cash dividend payment of $0.58 per share is scheduled to be paid on June 10, 2021. Shareholders who purchased MPC prior to the ex-dividend date are eligible for the cash dividend payment. Thi Source: Industry Insights

Marathon Petroleum Sells Speedway, Plans $10B Stock Buyback

Marathon Petroleum (MPC) has completed the sale of its Speedway convenience-store chain for $21 billion to retailer 7-Eleven. It plans to use the proceeds to buy back shares and pay debts. Marathon is an American fuel company whose operations include oil refining. It decided to sell Speedway as part of a restructuring plan.“The close of the […]

7-Eleven's purchase of Speedway chain closed at 'own risk' -FTC officials

The completion of 7-Eleven’s purchase of thousands of Speedway gas and convenience stores is potentially illegal and may raise competitive concerns in hundreds of local U.S. markets, two top officials at the U.S. Federal Trade Commission said on Friday. Source: Industry Insights

Seven & I Holdings Co, Marathon Petroleum merger agreement closed 'at their own risk' -officials

Seven & I Holdings Co Ltd’s announcement it had pressed forward in its merger agreement with Marathon Petroleum Corp is potentially illegal and may raise significant competitive concerns in hundreds of local gasoline and diesel fuel markets across the United States, two U.S. Federal Trade Commission officials said on Friday. Source: Industry Insights

Notable Friday Option Activity: EXPE, MPC, UAL

Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Expedia Group Inc (Symbol: EXPE), where a total of 13,255 contracts have traded so far, representing approximately 1.3 million underlying shares. That amounts to about 4 Source: Industry Insights

U.S. fuel supplies tighten as energy pipeline outage enters fifth day

Supplies of gasoline tightened further in parts of the United States on Tuesday as the shutdown of the nation’s biggest fuel pipeline by hackers entered its fifth day, raising concern about price spikes at the pumps ahead of the summer driving season. Source: Industry Insights