Phillips 66 (PSX) executive states two Gulf Coast refineries can process Venezuelan crude amid production ramp-up, according to remarks at Goldman Sachs conference call
Newsquawk Staff · Newswires ·
Phillips 66 (PSX) executive states two Gulf Coast refineries can process Venezuelan crude amid production ramp-up, according to remarks at Goldman Sachs conference call.
What it means
Phillips 66's capacity to process Venezuelan crude at its Gulf Coast refineries signals a strategic pivot, potentially enhancing its supply chain resilience amid production increases. This move may also influence regional pricing dynamics for WTI and Brent as Venezuelan output rises, and reflects a broader trend towards optimizing refining capabilities in response to global oil market shifts.
- [ANALYSIS] US Midterms: Senate, Governor and PUC indicative timings
- TREASURY WRAP: T-NOTE FUTURES (Z6) SETTLE 11+ TICKS LOWER AT 106-16
- US EQUITY OPEN: Tech pares back some recent losses as US/Iran negotiations and US midterms are in focus
- Venezuela's October oil exports 1.08mln bpd, almost unchanged, according to shipping data
- US BROKER MOVES: BE upgraded at Barclays; MRVL downgraded at TD Cowen
Related headlines
- CRUDE WRAP: WTI (Z6) SETTLES USD 0.37 LOWER AT 96.09/BBL5 days ago
- [MARKET UPDATE] Crude benchmarks sink on reports that the US and Tehran have made concessions related to the Iranian nuclear program and frozen funds; Brent Jan'27 has slipped beneath USD 102/bbl5 days ago
- US Midterms Cheat Sheet for Traders5 days ago
- Newsquawk US Market Wrap - Stocks mixed on AI rebound ahead of US midterms5 days ago
- Israeli PM Netanyahu was reportedly the one who proposed to US President Trump the ending of financial aid to Israel, N13 reports citing sources5 days ago
- US Energy Secretary Wright says overnight strikes on Iran's Qeshm Island have not impacted oil flows; more refined products are coming out of the Arabian Gulf and more will come from India5 days ago
- US President Trump says they have total control of the Middle East. Israel has been a helper.5 days ago
- Eight tankers carrying 300,800 tonnes of Russian diesel are being monitored on potential voyages to the US, with seven declaring the US as their destination and arrivals expected from November 7th, according to Ukrainian sources cited by an RFE journalist5 days ago
- Williams (WMB) says elections are not expected to delay data center projects5 days ago
- Israel has shared intelligence with the US asserting that Iran is considering the use of chemical weapons against its adversaries, information met with alarm by some American officials and deep skepticism by others, NYT reports citing sources5 days ago
- Sources close to the White House report a divisiveness in the Trump administration's approach to Iran, reports ILNA5 days ago
- US FX WRAP: Dollar sees two-way trade on geopols as US midterms await 5 days ago
- The Yemeni Armed Forces reportedly attack vital facilities in the southern region of Saudi Arabia, reports Sabereen News5 days ago
- ECB’s Sleijpen says the Iran shock is more persistent than earlier thought but we don’t really see second-round effects yet5 days ago
- US military threats against Iran are hindering progress in the conflict resolution process, according to an Iranian political source cited by RIA Novosti5 days ago