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Enterprise Products (EPD) Stock Gains on Higher Oil Prices, Distribution Hike

NEW YORK (TheStreet) -- Shares of Enterprise Products Partners (EPD - Get Report) were gaining by 3.9% to $25.88 on Thursday, as oil prices were rising after Russia launched its first air strikes in Syria and the company raised its quarterly distribution.

WTI crude oil for November delivery was up 3.08% to $46.48 a barrel on Thursday morning, and Brent crude oil for November delivery was up 1.86% to $49.27 a barrel.

Russian air strikes in Syria added to uncertainty in the Middle East, the world's biggest oil producing region, according to the Wall Street Journal.

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"Russia's military intervention in the Syrian conflict has increased the geopolitical risks, which is giving tailwind to the prices," analyst firm Commerzbank said in a note to investors.

A modest improvement in Chinese economic data also helped bring up oil prices, according to the Journal. China's purchasing managers index (PMI), which gauges manufacturing activity in the country...


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