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Plunging oil demand and dwindling storage options, not a coordinated supply cut with Saudi Arabia and Russia, will force U.S. producers to voluntarily cut production 30%-35% , Continental Resources (NYSE: CLR ) Executive Chairman Harold Hamm tells S&P Global Platts . More news o...
New data from the U.S. Energy Information Administration [EIA] confirms what the markets have been predicting for weeks: U.S. gasoline demand is in free-fall as Americans respond to the COVID-19 pandemic by remaining at home. Weekly consumption first began to decline for the period ending Ma...
"If I have to do tariffs on oil coming from outside or if I have to do something to protect our... tens of thousands of energy workers and our great companies that produce all these jobs, I'll do whatever I have to do," President Trump told a news briefing. More news on: Saudi Aramco, Ro...
Marathon Petroleum (NYSE: MPC ), Phillips 66 (NYSE: PSX ) and Valero Energy (NYSE: VLO ) are among the U.S. refiners (NYSEARCA: CRAK ) that are taking advantage of plunging oil prices to capture profits even while slowing fuel production. More news on: Marathon Petroleum Corporation, Phi...
CVR Energy (NYSE: CVI ) is downgraded to Sell from Neutral with a $12 price target, cut from $18, at Goldman Sachs, citing its exposure to the Brent-WTI spread amid declining U.S. oil production. More news on: CVR Energy, Inc., PBF Energy Inc, CVR Refining, LP, Energy stocks news, Stocks...
In a victory for the corn lobby and a defeat for oil refiners, the Trump administration reportedly will not appeal a federal court ruling that sharply limits its power to use waivers exempting refineries from U.S. biofuels blending requirements. More news on: Green Plains Inc., Green Pla...
Ethanol names including Green Plains ( GPRE +19.1% ) and Renewable Energy ( REGI +9.6% ) are rallying after the head of the Renewable Fuels Association says U.S. ethanol companies are on track to shut ~2B gallons of annualized production by the end of this week because of a demand slum...
Pre-market action in the Big Oil names indicate big gains when trading opens, as crude oil prices surge on hopes the U.S. will soon reach a deal on a $2T coronavirus aid package that could help support oil demand. More news on: Energy Select Sector SPDR ETF, Exxon Mobil Corpora...
Gasoline futures ( XB1:COM ) reportedly close -32% at $0.41/gallon after falling to as low as ~$0.38, plunging to their lowest-ever levels since the reformulated gasoline contract began trading in October 2005. More news on: Gasoline Futures, The United States Gasoline ETF, LP, Phillip...
Phillips 66 ( PSX -10.5% ) has cut rates , possibly by 15%-20%, at its 258K bbl/day Bayway refinery in New Jersey as gasoline cracks fall, S&P Global Platts reports. More news on: Phillips 66, Valero Energy Corporation, HollyFrontier Corporation, Energy stocks news, Stocks on...
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SUGAR LAND, Texas, July 16, 2024 (GLOBE NEWSWIRE) -- CVR Energy, Inc. (NYSE: CVI) plans to release its second quarter 2024 earnings results on Monday, July 29, after the close of trading on the New York Stock Exchange. The Company also will host a teleconference call on Tuesday, July 30, at 1 p.m...
2024-07-12 08:00:13 ET Paul Cheng from Scotiabank issued a price target of $24.00 for CVI on 2024-07-12 07:20:00. The adjusted price target was set to $24.00. At the time of the announcement, CVI was trading at $24.66. The overall price target consensus is at $29.00 with...
2024-06-09 05:23:00 ET Carl Icahn is one of the most famous activist investors on Wall Street. He's known for investing in companies with the goal of unlocking value for himself and other shareholders. Today he owns around 15% of Southwest Gas (NYSE: SWX) via his Icahn Enterprises...