PSX News and Press, Phillips 66 From 11/23/21

The  recently announced Strategic Petroleum Reserve ("SPR") release shows the White House doubling down on its view that oil prices will fall in 2022 32m of the 50m barrel release will come as an "exchange" of barrels, whereby participants will receive barrels today in exchange for an ob...

On a day when the Nasdaq and S&P 500 lost ground, oil stocks represented a rare bright spot on Monday. The sector climbed as the U.S. and OPEC+ squared off over crude supplies. ConocoPhillips (NYSE:COP), Diamondback Energy (NASDAQ:FANG), Occidental Petroleum (NYSE:OXY), Phillips 66 (NYSE:...

Crude oil trims earlier gains following reports that President Biden will announce a release of oil from the Strategic Petroleum Reserve in concert with other countries as soon as tomorrow. Plans could change, but the U.S. is considering a release of more than 35M barrels over time, Bloomberg...

In case you hadn't noticed , gas prices are way up. Since the beginning of 2021, the average price of a gallon of regular gasoline in the United States has risen by more than 52%, hitting $3.42 on Friday, according to data from GasBuddy.com. And over in Washington, D.C., President Biden...

Last week, I sold my first shares in ConocoPhillips, ever, since buying the company in the 1980s when it was still Phillips Petroleum. It was the first stock I ever bought. However, times change. So do management teams. COP is simply no longer the investment proposition it used to be....

The U.S. Environmental Protection Agency proposes to extend the reporting deadline for the 2020 and 2021 compliance years for oil refiners and importers to prove compliance under the Renewable Fuel Standard. The EPA says the plans are driven by the need to allow "the proper sequencing of dead...

Energy investments have been big winners the past 12 months, but appear due for a large correction. Slowing consumer and business demand trends for oil/gas could appear this winter as interest rates rise and buyers fret over inflation. Still low valuations and strong dividend paym...

Marathon Petroleum reported $32.61 billion in the third quarter of 2021, up 85.8% from the same quarter a year ago and up 9.3% sequentially. Refining operating costs were $4.97 per barrel for the quarter, down from $5.41 in 3Q20. I recommend accumulating MPC at or below $63. Howev...

A weekly summary of dividend activity for Dividend Champions, Contenders, and Challengers. Companies which changed their dividends. Companies with upcoming ex-dividend dates. Companies with upcoming pay dates. For further details see: Dividend Champion, Contender, An...

Midstream MLPs, as measured by the Solactive MLP Infrastructure Index, increased 5.30% last month. The index has increased by 84.08% since last October. The Enterprise Value to EBITDA ratio (EV-to-EBITDA), which seeks to provide more color on the valuations of MLPs, increased by 1.32%...