Tag: oil and gas
Integrated oil companies ExxonMobil and Chevron have strong upstream portfolios, which play a vital role in determining their profitabilities.
In the second quarter, Chevron (CVX) stock has risen 1% due to a 10% recovery in June. The company's peers have put up a mixed performance in the second quarter.
The shutdown at Philadelphia Energy Solutions could increase US oil inventories in the coming weeks. But at the same time, gasoline inventories might decline. The Philadelphia Energy Solutions refinery has a refining capacity of 335,000 barrels per day. On June 26, the United States Gasoline Fund (UGA), which follows gasoline prices, rose 4%.