PSX News and Press, Phillips 66 From 04/04/22

Update: In another sign of impending distillate fuel shortages, jet fuel traded at ~$320/b in New York Monday ($7.61/g), a ~$200+ premium to crude feedstock prices. The jet fuel premium is ~10x larger than any premium seen in the past ~30yrs. Par Pacific (PARR) has the most exposure to d...

I have been overweight Valero and other refiners since 2020. Those positions have since provided triple digit total returns. Because Valero is deeply cyclical, I have taken profits, but I still hold my other refiner positions. Taking profits now is mostly a type of portfolio r...

In a note Sunday, Goldman's commodity team wrote that a new pricing regime for oil (USO) requires "demand destruction" for oil products. However, as high prices lead to falling demand for products like gasoline, Goldman expects distillate fuel demand to remain strong and margins to remain hig...

The two stocks that created the most call option income is Qualcomm (QCOM) and Nucor (NUE). The next three stocks are Alcoa (AA), Apple (AAPL), and Best Buy (BBY). It is notable that the concentration of call frequency and call income does not seem to correlate to dividend yield. ...

Saturday night an explosion and subsequent fire rocked the ExxonMobil (XOM) refinery in Billings; the fire burned for three hours before being put out by fire departments from around the region. The refinery processes ~60kb/d, and the Company said Sunday they "are working diligently to better...

InvestorPlace - Stock Market News, Stock Advice & Trading Tips Tyson Foods (NYSE: TSN ): Higher prices won’t prevent people from eating. Allstate (NYSE: ALL ): With serious accidents on the rise, it’s time for insurance. Weyerhaeuser (NYSE: WY ): Th...

Shortly following the war in Ukraine, Shell (SHEL) and BP (BP) told customers to expect reduced supplies of diesel fuel. Earlier this week, the heads of three commodity trading houses said that Europe would face fuel shortages this summer. And two announcements Thursday suggest shor...

During a presentation at the FT Commodities Summit in Switzerland, heads from Commodity trading houses Gunvor and Trafigura said Europe should expect "stock outs" of diesel fuel. Europe relies on Russian diesel imports for ~15% of supply, and recent self-sanctioning appears to be impacti...

Rising oil and gas prices have been a key cause of inflation. In fact, the consumer price index rose 7.9% between February 2021 and February 2022, marking the largest year-over-year U.S. inflation reading in 40 years. A strained supply chain and years of underinvestment may result in hi...

The stock market has been experiencing high volatility due to surging inflation, the Ukraine-Russia war, and multiple interest rate increases planned by the Fed this year. So, investors looking to side-step the market’s volatility could be well served by betting on high dividend-yieldi...