Why Units of Plains All American Pipeline Slumped Nearly 12% in October
Units of Plains All American Pipeline (NYSE: PAA) fell 11.8% in October, according to data provided by S&P Global Market Intelligence. While the energy company had some good news last month, one of its recent successes seemed to weigh on the oil pipeline MLP.
Plains All American has been having a great year. Its earnings soared during the first half of 2019, due in large part to the wide gap in crude oil prices in areas like the Permian Basin that didn't have enough pipeline space. That has allowed Plains All American's supply and logistics segment to cash in by strategically moving this crude to higher-priced markets along the Gulf Coast.
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Source Fool.com
