Heating Oil Hits $6 A Gallon As Global Supply Shocks Threaten Consumer Spending
Consumers should expect "sticker shock" when their tanks are filled this winter, Lipow Oil's Andy Lipow told CNBC.
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QUICK SPARK: Marathon Petroleum Nears 10-Month Winning Streak Last Seen In 2013
Marathon Petroleum stock is one month-end close from a 10-month winning streak last seen in March 2013. ETF CRAK is up about 77% this year.
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Shares of oil and gas refining and marketing companies are trading higher after BP issued a Q3 update that included a $1.9 to $2.1 billion boost from stronger refining margins, which may aid investor confidence in the sector's profitability. Also, bipartisan Congressional pushback on President Trump's plan to import Russian diesel may assuage concerns over competition from foreign oil product cargoes.