VanEck Oil Refiners ETF

HF Sinclair EVP Valerie Pompa Sells 10,000 Shares at $69.05 Avg Price

Phillips 66 Advances Permian Basin Zeus Gas Plant Project, $2-2.5B Investment for 2028 Operation

Argus Raises Phillips 66 Price Target to $197, Maintains Buy Rating

FactSet Raises HF Sinclair Corp. 2026 EPS Forecast to $7.66

Phillips 66 CFO Kevin J. Mitchell Sells Company Shares

Securian Asset Management Inc. Cuts Holdings in Phillips 66

HF Sinclair Refinery Fire, Tulsa Fire Department Provides Standby Support

Chalmette Refinery Explosion and Fire

Sequoia Financial Advisors LLC Increases Holdings in Phillips 66

Marathon Petroleum's Refinery Resumes Operations

Phillips 66 Director Kevin Omar Meyers Buys Company Stocks

US Refineries Increasing Jet Fuel and Diesel Production to Meet European Demand

FactSet Survey: Analysts Raise Marathon Petroleum's 2026 EPS Forecast

TD Cowen Analyst Reiterates Buy Rating on Marathon Petroleum and Raises Target Price to $320

UBS Raises HF Sinclair Target Price to $80, Boosting Stock Price

Marathon Oil Reports Strong Performance in Mid-Continent Market

Marathon Petroleum CEO: War leads to shutdown of 6% of global refinery capacity

Marathon Petroleum released FY2026 Q1 earnings on May 5 Pre-Market EST, actual revenue USD 34.39 B (forecast USD 30.83 B), actual EPS USD 1.73 (forecast USD 0.8222)

Marathon Petroleum Reports Strong Q1 Earnings and Announces Additional $5B Share Repurchase Program

Marathon Petroleum Reports Q1 Net Income of $511 Million

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Global inflation is surging due to an energy shock from the Iran war, which has disrupted 20% of global oil and LNG flows. U.S. wages increased by 3.6%, but prices rose by 3.8%, ending real income gains. This rising inflation has shifted central bank expectations from rate cuts to potential hikes, complicating global monetary policy.

- The Iran war has disrupted 20% of global oil and LNG flows, resulting in an unprecedented energy supply shock.  
- In the U.S., wages increased by 3.6%, but prices rose by 3.8%, eliminating a three-year period of real income growth.  
- This scenario has caused a shift in central bank expectations from potential rate cuts to possible hikes, complicating global monetary policy.

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Global inflation surges as energy shock reshapes outlook

UK regular pay grew 3.4% year-on-year in early 2026, meeting expectations amid rising inflation risks from higher energy prices. The Federal Reserve raised its 2026 inflation forecast to 2.7%, the largest increase in recent cycles, influenced by oil market disruptions. Additionally, U.S. crude releases have reduced the Strategic Petroleum Reserve below 300 million barrels as global inventories sharply declined.

- UK regular pay increased by 3.4% year-on-year in early 2026, meeting expectations as policymakers monitor inflation risks related to rising energy prices.  
- The Federal Reserve raised its 2026 inflation forecast to 2.7%, marking the largest upward revision in recent cycles due to disruptions in the oil market.  
- U.S. crude releases have reduced the Strategic Petroleum Reserve to below 300 million barrels amid a significant decline in global inventories during March and April.

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UK wage growth steady as oil shocks fuel inflation risks

Cleveland Fed projects May inflation at 4.18%, with Q2 CPI annualizing at 6.89%, the highest in three years. The Iran war's impact has led to soaring oil prices, causing U.S. gas prices to rise rapidly. As a result, hopes for rate cuts in 2026 have diminished, with potential hikes anticipated under new Fed Chair Kevin Warsh.

- The Cleveland Fed projects May inflation at 4.18%, with the Q2 CPI annualizing at 6.89%, marking a three-year high.  
- The Iran war has closed the Strait of Hormuz, causing oil prices to rise significantly and leading to the fastest increase in U.S. gas prices in 30 years.  
- This inflation surge diminishes hopes for rate cuts in 2026, with potential interest rate hikes anticipated under the new Fed Chair Kevin Warsh.

Fed's May inflation forecast spikes, rate cuts unlikely in 2026

Analysts at Erste Group Bank have reduced their FY2027 earnings estimates for Valero Energy Corporation (NYSE:VLO) from $19.02 to $18.94 per share. The consensus estimate for the company's current full-year earnings stands at $28.26 per share. Valero's stock has received various ratings, with a current average price target of $237.94. The company recently announced a quarterly dividend of $1.20, payable on June 23rd.

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bp Whiting refinery has returned to negotiations with the United Steelworkers (USW) Local 7-1, expressing disappointment over the union's departure from talks. The refinery aims to modernize its agreement, proposing job structure changes, bonuses, and wage increases. Negotiations began on January 5, but the USW rejected the final offer, leading to a lockout initiated on March 19. bp Whiting remains committed to good-faith bargaining for sustainable operations and hopes the union will return to discussions.

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13:47 ETbp Whiting Statement: USW leaves negotiations and delays progress. bp Whiting committed to staying at the table.

RBA Assistant Governor Sarah Hunter will address inflation and the Middle East conflict at the Bloomberg Forum in Sydney. Her speech will focus on energy-driven price pressures and the impact of elevated oil prices on the Australian economy. Markets are expected to scrutinize her remarks for indications of how geopolitical risks may influence inflation and interest rates, particularly following three consecutive rate hikes by the RBA. Hunter's address signals the Bank's concern over persistent inflation and its implications for future monetary policy.

- Reserve Bank of Australia’s Assistant Governor Sarah Hunter will address the impact of inflation and the Middle East conflict at a Bloomberg investment forum in Sydney.  
- The speech comes after three consecutive interest rate hikes of 25 basis points, reflecting the RBA's concerns over persistent inflation driven by geopolitical factors.  
- The market will closely watch for indications that the RBA views conflict-driven oil prices as a lasting inflation factor, impacting consumer prices and future rate decisions.

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RBA to address inflation risk from Middle East conflict at Sydney forum. Hunter no dove.

BP says United Steelworkers Local 7-1 walked away from talks at Whiting refinery; BP returned ready to negotiate but says union left without addressing open issues.1BP PLC ADR (BP) traders: BP launched a limited-time bp rewards Visa offering 50¢/gal for 60 days (apply by Sep 30, 2026). Ongoing: 5x BP non-fuel, 3x groceries/dining, 1x other; redemptions vary.2

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Key facts: BP says Local 7-1 left Whiting talks; launches 50¢/gal Visa

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The Indian rupee fell to a record low of 96.44 per US dollar due to rising oil prices linked to the Iran conflict and higher US Treasury yields. Since late February, the rupee has declined nearly 6%, exacerbating India's external imbalances. Economists predict a significant widening of India's current account deficit, potentially reaching $65-$70 billion this year. HSBC highlights the dual challenge of reducing the deficit and attracting sustainable capital inflows, while elevated oil prices and rising US yields complicate the economic outlook.

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Rupee hits record low as oil surge strains finances

Japan's GDP grew 2.1% annualized in Q1, exceeding the 1.7% forecast, driven by consumption, investment, and exports. However, the closure of the Strait of Hormuz has disrupted 20% of global oil supply, leading to rising fuel prices and inflation risks. The Bank of Japan may consider a rate hike in June due to increasing import costs affecting inflation and corporate profits.

- Japan's GDP grew 2.1% annualized in Q1, exceeding the 1.7% forecast, driven by increased consumption, investment, and exports.  
- The closure of the Strait of Hormuz has impacted 20% of global oil supply, causing fuel prices to rise and heightening inflation risks.  
- In response to escalating import costs affecting inflation and corporate profits, the Bank of Japan is considering a rate hike in June.

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Japan’s Q1 growth beats forecasts but energy shock looms

ECB Governing Council member Martin Kocher warns that a rate hike in June is unavoidable if the Hormuz Strait remains closed due to ongoing Middle East conflict, which could push eurozone inflation higher. He emphasized that the ECB's goal is medium-term price stability and that the duration of the conflict will significantly impact inflation predictions. Despite weak data, Kocher noted the Austrian economy's resilience and potential growth of 0.5% this year, contingent on the conflict's duration.

- ECB Governing Council member Martin Koch indicated that if the Strait of Hormuz remains closed and Middle Eastern conflicts persist, a rate hike on June 11 is unavoidable.  
- Koch emphasized the central bank's focus on mid-term price stability, warning that prolonged conflict could lead to higher inflation rates.  
- He noted that Austria's economy showed resilience in Q1, and growth could still reach 0.5% this year if tensions ease; however, external supply shocks limit government options.

ECB's Kocher warns June rate hike unavoidable if Hormuz stays shut

VanEck Oil Refiners ETF(CRAK.US)