How Trump's second administration could affect gas prices [FOX Business Network]
Phillips 66 (PSX)
Last phillips 66 earnings: 5/1 07:00 am
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Source: FOX Business Network
Energy analysts projected that the re-election of Donald Trump could offer a potential boost to oil companies despite concerns that geopolitical tensions could lead to potential price increases. Patrick De Haan, head of petroleum analysis at GasBuddy, posted on X that Trump's re-election is "net [positive]" for oil companies, as the energy sector is anticipating a rollback of stringent regulations. But he also said that it "could be bad for prices" if Trump hardens or adds more sanctions on Iran. Phil Flynn, a senior analyst at Price Futures Group and FOX Business contributor, said Iran has been exporting roughly 1.7 million barrels a day, and if Trump enforces sanctions on those barrels, it is "going to have to [be] made up somewhere." OPEC could help with production but if not, it will be up to the U.S. to fill that void, Flynn said. "The lack of new leases and inflation makes it harder for U.S. oil and gas to fil that void," he added, referring to how the U.S. government
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News
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PSX
Earnings
- 10/29/24 - Miss
PSX
Sec Filings
- 11/4/24 - Form 4
- 10/29/24 - Form 10-Q
- 10/29/24 - Form 8-K
- PSX's page on the SEC website