Phillips 66 Wood River Catalytic Cracker Shut Down, Sources Say
PSX has more than doubled off its 52-week low of $126.92.
Summary
A catalytic cracker unit at Phillips 66's 355,000-barrel-per-day Wood River refinery in Illinois has been shut down, according to two sources. The refinery produces gasoline, diesel, and aviation fuel. The company has not yet commented. This follows a series of process upsets at the Sweeny, Texas refinery in late July, suggesting potential operational challenges across the refining system. The outage could reduce refined product output at a time when refining margins are elevated, though the duration and capacity impact are not yet known.
At the time of this announcement, PSX was trading at $291.92 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $116.5B. The 52-week trading range was $126.92 to $292.32. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.