The Federal Reserve revamped its Main Street Lending Program in ways that will allow battered oil companies to qualify for the aid after industry allies lobbied the Trump administration for changes. Larger, more heavily indebted companies can now qualify and use the money to pay off prior loans under the changes the central bank announced.
Even as oil prices are battered down to 18-year lows, one energy fund thinks $100 a barrel is achievable. But first, prices need to fall even further. Westbeck Capital Management’s Energy Opportunity Fund climbed 20.2% in March after declines in the first two months of the year, according to an investor letter. That puts the.