FILE PHOTO: General view of the Marathon petroleum refinery in Carson, California, U.S., December 5, 2019. REUTERS/Mike Blake
“[This] would mark the weakest quarter of the year,” said Matthew Blair, analyst at Tudor Pickering Holt and Co. Crude oil benchmarks rallied more than 20% in the quarter, which squeezed U.S. refining margins to less than $10 a barrel on average - the threshold for which most refiners make money - for the majority of the fourth quarter.
Delta Airlines’ refinery in Trainer, Pennsylvania, in early January posted a $102 million refining segment loss in the fourth quarter, and a $441 million loss on third party fuel sales. Credit Suisse analyst Manav Gupta said Phillips 66 will lose $1.16 per share in the quarter. He had originally anticipated a 30-cent loss, but changed that due to lower refining earnings in the Gulf Coast, West Coast and Midwest markets.
Thanks Joe!🇺🇸😡
DO YOU KNOW WHAT IS NOT FUNNY OR A PERFORMANCE ART? SEX CRIMES!!! DO YOU KNOW WHO IS NOT JOKING AROUND? ME, ANDREW BALLARD!!! I AM A SEX CRIME/POLICE CORRUPTION VICTIM, AND I DESERVE JUSTICE! WILL YOU HELP ME GET A FBI/FBIPhoenix/TheJusticeDept INVESTIGATION?
But they’ll still be making money unlike millions of Americans!
Oh boohoo
Good.