MPC News and Press, Marathon Petroleum Corporation From 06/06/22

Crude oil prices pushed past $120/bbl to their highest levels in three months on Monday after Saudi Arabia raised the official selling price of its Arab light crude to Asia, but eased lower by the close of trading. "Energy traders are confident this oil market will remain tight given the shor...

Amid a global refining crunch, Kuwait has begun production at the first of three units in its newly built 615kb/d Al-Zour refinery; the complex is expected to fully ramp by year end. The complex is one of two major refineries to ramp this year, with Saudi's Jazan refinery just beginning to ex...

Market timing can be a very attractive and tempting strategy in theory, particularly in challenging markets like today but can be difficult to achieve in real-time. “Factor momentum” is using the recent price action of a given factor (value, growth, quality, etc.) to pre...

The Biden administration is set to announce biofuel blending quotas for 2021 and 2022 Friday, an announcement that will impact food (CORN) (SOYB) and fuel prices, as well as bio-fuel and refining margins (VLO) (MPC). Ahead of the announcement, Bloomberg has reported that the President wi...

BofA's quantamental Alpha Surprise Portfolio saw an equal number of addition and deletions for May. The portfolio return was +2.3% for the month, outperforming the S&P 500 (SP500) (SPY), which was flat, and the equal weight S&P 500 (RSP), +0.8% for the month. The l...

Traditional energy companies continue to outperform. Oil and gas prices appear unlikely to substantially decline in the near term. Yield and probable dividend growth are now supplemental reasons to allocate into energy. Current retail and institutional rotation into energy is ...

Bank of America's Doug Leggate published a bullish note on PBF (NYSE:PBF) Thursday, suggesting the company is the "poster child" for a new "Golden Age" in US refining. Leggate has been bullish refiners for much of the year, so Thursday's note comes as no surprise; however, a detail in the not...

European diesel margins jumped Tuesday, as a confluence of factors led markets higher. Gasoil (diesel) margins in Europe rose to $36.84 per barrel, up $4.12 from Friday's close:  Russian diesel exports to Europe fell another 8% in May, are at their lowest level since October 2020, and ~2...

The President is reportedly asking oil refiners and integrated companies to "restart idled refineries." The move marks a pivot in three ways. First, the Administration is acknowledging that prices at the pump are elevated in large part because of a shortage in refining capacity. Sec...

--News Direct-- The Detroit refinery hosted a Small Business Saturday event in April to highlight local vendors in the community and help stimulate the local economy. This community fair was part of the refinery’s second annual Fueling Detroit Event Series. Nearly 300 residen...