Diesel Squeeze Nobody Hedged: 4 Refiners Just Logged Their 6th Straight Week of Gains
Valero, Marathon Petroleum, HF Sinclair and Phillips 66 have gained for six consecutive weeks as diesel crack spreads hit an all-time record.
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Raymond James Maintains Strong Buy on HF Sinclair, Raises Price Target to $140
Raymond James analyst Justin Jenkins maintains HF Sinclair (NYSE:DINO) with a Strong Buy and raises the price target from $105 to $140.
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Shares of oil and gas refining and marketing companies are trading higher despite a retracement in oil prices amid investor focus on shortages of refined petroleum products stemming from persistent outages in Russian and Middle Eastern refining capacity.
Shares of oil and gas companies are trading higher amid a rise in crude after reports suggesting that Saudi Aramco deferred and cancelled some September crude cargoes meant for European refiners after the closure of its East-West pipeline to the Red Sea. Also, ongoing Saudi strikes on Yemen's Houthi rebels and a tight global diesel market are helping to support crude prices.