PSX News and Press, Phillips 66 From 06/16/22

There are not enough refineries running to supply the world's demand for gasoline and diesel, so inventories are falling and margins are ~500% above any point in recent history. There isn't enough supply of oil to feed the refineries that are running, so inventories are falling, and prices ar...

Late Wednesday, Exxon (XOM) responded to Biden's letter requesting solutions to the ongoing oil refining crisis. In the short term, "the US government could enact measures often used in emergencies following hurricanes or other supply disruptions -- such as waivers of Jones Act provisions and...

Soaring oil and gas prices are causing a lot of pain at the pump for consumers in the U.S. and around the world. For Chevron (NYSE: CVX) and other oil giants, however, the tight energy market has brought a big boost in profits and impressive share-price gains. President Joe Bide...

Phillips 66 (NYSE: PSX) stock popped today and was trading up 5.3% as of noon Tuesday. Oil prices jumped on Tuesday, but that's not the only factor that provided the impetus for shares of Phillips 66. Oil and gas refiners are hot on analysts' radar right now. This morning, Roger...

BMO initiated coverage of the "big 3" US refiners Tuesday, capturing all the well-understood themes in the sector. Rebounding demand, paired with reduced supply has resulted in elevated margins -- BMO sees the large-cap refiners trading at 6.2x 2022 earnings. The bank notes that "valuation is...

Wells Fargo analyst Roger Read has been bullish on the refining sector since late 2021; with Tuesday's upgrade of PBF (PBF) the analyst is now buy-rated on every US refiner under coverage. In a note Tuesday, Wells updated Q2 estimates, showing just how impactful current margins could be ...

Phillips 66 (NYSE: PSX) Executive Leadership Team members will participate in a fireside chat at the J.P. Morgan Energy, Power & Renewables Conference on Wednesday, June 22, 2022, at 9:50 a.m. EDT. Phillips 66 leaders will discuss the company’s strategic initiatives and i...

The global economy is a perfect storm for near-record-high oil prices. Geopolitical tensions have taken much of Russia's supply off the market. Years of underinvestment paired with the brutal COVID-19-induced downturn left global supply unprepared for the rebound in demand for natural gas, ...

InvestorPlace - Stock Market News, Stock Advice & Trading Tips In times of rising economic uncertainty, cash is king. Therefore, today’s article focuses on cash-cow stocks and exchange-traded funds (ETFs) that invest in such shares. Businesses require cash to meet their obliga...

In April, despite increased refining runs and reduced domestic demand, China saw oil product exports collapse year on year. May trade data, published Thursday, showed a continued reduction in exports, down 40% year on year and ~15% month on month:  Although reduced exports are sure to im...