The oldest refinery on the US East Coast will not be closing in August. The refinery’s owner, Sunoco Inc. (NYSE: SUN) today announced that it would form a joint venture ... Read Full Story »
When Delta Air Lines Co. (NYSE: DAL) agreed to buy an oil refinery from Phillips 66 (NYSE: PSX), the transaction underscored a shift that has been taking place in refinery ... Read Full Story »
The current drop in crude oil prices is putting a little more cash in the pockets of consumers at the expense of the big integrated oil and refining companies. The ... Read Full Story »
The month-long slide in crude oil prices has chopped the share price of many of the biggest names in the oil patch. Exxon Mobil Corp. (NYSE: XOM) is about -4% ... Read Full Story »
As of about 9:30 this morning, Brent crude is trading at its lowest price in three months, and the price differential between Brent and WTI crude closed to about $12/barrel ... Read Full Story »
In a presentation yesterday to investors, Valero Energy Corp. (NYSE: VLO) CEO Bill Klesse said that stagnant demand for refined products in the US would be replaced by foreign demand ... Read Full Story »
This morning’s report from the US Energy Information Administration (our coverage here) showed that commercial crude oil inventories in the US rose by 4.2 million barrels last week. At the ... Read Full Story »
At the end of December, Brent crude spot prices were around $107/barrel and WTI spot prices were around $99/barrel. Since then, Brent has risen to right around $121/barrel today and ... Read Full Story »