Court approves injunction against Tesoro Los Angeles Superior Court Judge Ralph W. Dau ruled in favor of an injunction against Texas oil giant, Tesoro Corporation, filed by the Water Replenishment District of Southern California. WRD filed the injunction to stop Tesoro from pumping groundwater because the company has not paid its monthly replenishment assessment since May 2012 and owes more than $900,000, funds which are crucial to WRD's ability to provide safe and reliable water to the public. Judge Dau's approval of the injunction requires Tesoro to pay within 10-days its outstanding bills to WRD or discontinue pumping groundwater it uses for its plant operations. WRD, area groundwater pumpers and ratepayers applaud the judge's decision as a ruling that protects the long term health of the region's groundwater basins.
Tesoro options active on speculation of a conference cancellation Tesoro October 98 and 100 calls are active on total call volume of 6K contracts (4K puts) following speculation of a conference cancellation. September weekly call option implied volatility is at 42, October is 36; compared to its 52-week range of 26 to 56. Active options volume suggests traders taking positions for price movement.