Oil from U.S. reserves sent overseas as gasoline prices stay high [Financial Post (Toronto, Ontario, Canada)]
Phillips 66 (PSX)
Last phillips 66 earnings: 5/1 07:00 am
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Source: Financial Post
Advertisement The export of crude and fuel is blunting the impact of the moves by U.S. President Joe Biden to lower record pump prices. Biden on Saturday renewed a call for gasoline suppliers to cut their prices, drawing criticism from Amazon founder Jeff Bezos. About 1 million barrels per day is being released from the Strategic Petroleum Reserve (SPR) through October. The flow is draining the SPR, which last month fell to the lowest since 1986. U.S. crude futures are above $100 per barrel and gasoline and diesel prices above $5 a gallon in one-fifth of the nation. U.S. officials have said oil prices could be higher if the SPR had not been tapped. “The SPR remains a critical energy security tool to address global crude oil supply disruptions,” a Department of Energy spokesperson said, adding that the emergency releases helped ensure stable supply of crude oil. The fourth-largest U.S. oil refiner, Phillips 66, shipped about 470,000 barrels of sour crude from the Big Hill SPR storag
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- Phillips 66 (NYSE: PSX) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Phillips 66 (NYSE: PSX) had its price target raised by analysts at Barclays PLC from $139.00 to $155.00. They now have an "equal weight" rating on the stock.MarketBeat
- Schoox to Host Sessions and Highlight Acclaimed L&D Platform in London at Learning Technologies 2024PR Web
PSX
Earnings
- 1/31/24 - Beat
PSX
Sec Filings
- 4/4/24 - Form 8-K
- 4/3/24 - Form ARS
- 4/3/24 - Form DEFA14A
- PSX's page on the SEC website