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The stock of Phillips 66 has been left in the dust by its larger refining peers Valero and Marathon. Yet the lack of global refining capacity is just as much a positive catalyst for PSX, and PSX's two refineries in Europe are ideally positioned. Given the current macro environment...
There's a lack of adequate refining capacity because of refinery closures due to COVID-19, natural disasters, and the economic reality of the last few years. As a result, refiners are now in an excellent position to profit from crack spreads that have blown out - especially for diesel...
Exxon Mobil (NYSE:XOM) closed +4.6% in Tuesday's trading to easily breach $100 and reach its highest level in eight years, closing less than a dollar from its all-time closing high of $104.38 set on June 23, 2014. Exxon (XOM) enjoyed some Wall Street love from Evercore ISI, which upgraded the...
Shares of Valero Energy Corporation (NYSE:VLO) traded at a new 52-week high today of $144.02. This new high was reached on below average trading volume as 2.6 million shares traded hands, while the average 30-day volume is approximately 5.5 million shares. Valero Energy is one of the lar...
Europe has announced measures to phase out Russian oil (USO) imports in 2022; however, the impact on global supply and demand could be limited, as seaborne exports re-route to other markets. Importantly, Europe also plans to ban distillate imports (heating oil, diesel, jet fuel); a much more ...
Crude oil prices pushed past $120/bbl to their highest levels in three months on Monday after Saudi Arabia raised the official selling price of its Arab light crude to Asia, but eased lower by the close of trading. "Energy traders are confident this oil market will remain tight given the shor...
Amid a global refining crunch, Kuwait has begun production at the first of three units in its newly built 615kb/d Al-Zour refinery; the complex is expected to fully ramp by year end. The complex is one of two major refineries to ramp this year, with Saudi's Jazan refinery just beginning to ex...
Exxon Mobil is one of many oil stocks that rallied with this year's rise in oil prices. People are beginning to sound the alarm about oil stocks like Exxon because the trade is getting very popular. Oil stocks aren't as cheap as they used to be, but Exxon, specifically, trades at ...
The Biden administration is set to announce biofuel blending quotas for 2021 and 2022 Friday, an announcement that will impact food (CORN) (SOYB) and fuel prices, as well as bio-fuel and refining margins (VLO) (MPC). Ahead of the announcement, Bloomberg has reported that the President wi...
Friday marks the 100th day since the start of the war between Russia and Ukraine. Ever since Russian President Vladimir Putin decided to invade Ukraine on Feb. 24th, Wall Street has seen a spike in commodities specifically with regards to oil and wheat. Oil At the close of Feb. 23rd, the day ...
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2024-07-12 08:00:14 ET Paul Cheng from Scotiabank issued a price target of $173.00 for VLO on 2024-07-12 07:22:00. The adjusted price target was set to $173.00. At the time of the announcement, VLO was trading at $146.64. The overall price target consensus is at $143.82 ...
2024-07-12 07:30:08 ET Wells Fargo analyst issues EQUAL-WEIGHT recommendation for VLO on July 12, 2024 05:55AM ET. The previous analyst recommendation was Equal-Weight. VLO was trading at $146.64 at issue of the analyst recommendation. The overall analyst consensus : BUY...
2024-07-12 07:00:08 ET Roger Read from Wells Fargo issued a price target of $156.00 for VLO on 2024-07-12 05:55:00. The adjusted price target was set to $156.00. At the time of the announcement, VLO was trading at $146.64. The overall price target consensus is at $146.36...