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Integrated oil and refining stocks have seen mixed performance in 2022. The commodity markets have been broadly supportive of higher share prices; however, war in Ukraine has brought challenges for the sector. US-focused Chevron (CVX) has seen shares advance 47% year to date, while Total's (T...
Following a rapid rise in oil (USO) and gas (NG1:COM) prices over the past week, WTI (CL1:COM) fell over 5% Tuesday, while Henry Hub gas (NG1:COM) fell over 8%; European gas closed below $30/mmbtu Tuesday, marking a ~10% decline over the past week. Both oil and US gas traded higher ...
In a post on its website earlier Tuesday, Total (TTE) provided investors with Q1 pricing and margin indicators; gas trading and refining margins stood out. Exxon (XOM) provided an 8k to the market in early April, indicating refining profits would likely fall quarter on quarter; conversely, Sh...
Corn (C_1:COM) prices surpassed $8.00 per bushel Monday, up ~3% in early trading, marking a 10-year high and narrow discount to all-time highs reached in 2012. Soybean (S_1:COM) prices followed corn prices higher, up ~2% on the day, hitting a fresh 10-year high and trading less than 1% b...
Bank of America's energy team released a note Thursday indicating that "E&P performance stalled for now, advantage refiners" (XLE). Meanwhile, RBC commodity markets analyst Michael Tran wrote oil markets (USO) remain well supplied, while refined products are becoming scarce. The notes bot...
The International Energy Agency "IEA" updated its forecast of global oil market balances Wednesday, flagging weaker demand growth and mitigated Russian production impacts. Earlier in the year, the IEA, the US Department of Energy and OPEC all forecast 2022 surpluses. Tuesday, the Department o...
HOUSTON, April 11, 2022 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE: PARR) (“Par Pacific”) today announced that it will release its first quarter 2022 results after the New York Stock Exchange closes on Wednesday, May 4, 2022. This release will be followed by a confer...
Last week it was reported that Russia's largest midstream business planned to cap oil production volumes into its pipeline system. Thursday, it was reported that refineries are planning to cut runs, as a drop in European buying has led to overstocking. Reuters reported that the four larg...
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...
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...
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HOUSTON, July 11, 2024 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE: PARR) (“Par Pacific”) today announced that it will release its second quarter 2024 results after the New York Stock Exchange closes on Tuesday, August 6, 2024. This release will be followed by a conference ...
HOUSTON, June 05, 2024 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE: PARR) (“Par Pacific”) today announced a new, crude-only intermediation financing agreement (the “Intermediation Agreement”) between its subsidiary Par Hawaii Refining, LLC (“Par Hawaii&...
HONOLULU, June 03, 2024 (GLOBE NEWSWIRE) -- Hele Kamaʻaina Rewards members are winning at the pump and in the skies this summer! Hele app users not only save $0.25 per gallon every day, but they also have the chance to win round-trip airfare to Tokyo. Hele convenience stores are part of th...