HOUSTON, TX / ACCESSWIRE / January 26, 2016 / LinnCo LLC (NASDAQ: LNCO) owner of units representing limited liability company interests in its affiliate, Linn Energy, LLC, recently announced the estimated federal income tax characteristics of its 2015 cash distributions to holders of its common shares. Despite, a recent rally in oil price and LNCO shares driven by a severe winter storm in Eastern US, oil prices have fallen a whopping 70% since June 2014 due to oversupply concerns. The falling trend doesn't seem to have stopped, as crude oil prices have tested 12-year lows. Crude oil is trading close to the psychological mark of $30 per barrel, but the appreciating dollar and record supplies are putting further pressure on oil prices. Analysts predict prices as low as $10 bbl and as high as $40; either way, far below the highs of 2014.
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SOURCE: Small Cap Street
Source: Accesswire IA
(January 26, 2016 - 7:45 AM EST)
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