Business briefs: Magellan Midstream Partners LP has completed a two-for-one split

Oklahoma business briefs: Oct. 16, 2012
Published: October 16, 2012

In brief


Stock splits

Magellan Midstream Partners LP has completed a two-for-one split of limited partner units. The petroleum products transportation and distribution partnership distributed units to all holders of record as of Sept. 28. Magellan now has about 226.2 million units outstanding. The partnership's annualized cash distribution rate is now $1.885 per unit.

Oil remains


A late-day surge left oil prices virtually unchanged Monday, erasing losses of more than two percent. Higher U.S. stock prices may have also influenced the buying of oil. The Commerce Department said Monday that retail sales rose 1.1 percent last month, following a 1.2 percent increase in August. The S&P 500 and the Dow Jones industrial average each rose about 0.7 percent. Benchmark crude finished down a penny at $91.85 on the New York Mercantile Exchange. Brent crude, used to price international varieties of oil, closed at $114.40.

From Staff and Wire Reports

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