U.S. stocks mixed at close of trade; Dow Jones Industrial Average down 0.25%

U.S. stocks were mixed, with significant gains in Consumer Goods and Technology sectors, while Telecoms and Oil & Gas sectors declined. Notable performances by Broadcom and Tesla.

Phillips 66 outlines capital budget, sells pipeline stake

Phillips 66 shares declined 3% after announcing its 2025 budget and a pipeline sale, reflecting investor concerns over the company's financial outlook and strategic decisions.

Global diesel prices to rely on refinery closures for support in 2025

The global diesel market is predicted to gain support in 2025 from refinery closures and rising demand, despite current weaknesses and shifts towards cleaner fuels.

California law, refinery exit reflect ongoing fuel market challenges, EIA says

California fuelmakers face regulatory pressures and weakening refining margins, impacting supply and pricing dynamics, as highlighted by the EIA's recent analysis.

Trump's proposed tariffs on Canada would drive up pump prices, analysts warn

Phillips 66 indicted for violating Clean Water Act

Another US oil refinery to vanish with Lyondell Houston plant closing

LyondellBasell announced plans to permanently close its Houston refinery by Q1 2025 amid decreasing U.S. fuel demand and increasing renewable energy pressures.

Refiner PBF Energy posts bigger-than-expected Q3 loss as margins collapse

PBF Energy reported a larger-than-expected loss in Q3 due to weak fuel demand, with refining margins down significantly. Future throughput and increased dividends were announced.

Earnings call: Phillips 66 reports strong Q3 financials, aims for growth

Phillips 66 reported strong Q3 2024 results, returning $12.5 billion to shareholders and improving Midstream earnings, despite refinery challenges and future closures.

US Steelworkers union looks to clean energy to replace job losses at oil refineries

The United Steelworkers union expects clean energy projects to boost membership despite refinery job losses, anticipating 17,000 new union jobs from the Inflation Reduction Act.