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Refinery Stocks Hit An Oil Slick

Published 04/04/2013, 12:15 AM
Updated 07/09/2023, 06:31 AM

This morning, the oil refinery stocks are plunging lower again for the second straight day. Phillips 66 (PSX) has been one of the leading refinery stocks in the industry group. This stock was spun off by Conocophillips (COP) last year in April 2012 at around $33.00 a share. The stock has been a major winner since that time. Today, PSX is trading lower by $3.03 to $63.80 a share. The stock should have intra-day support around the $63.00, and $61.00 levels.

Some other leading oil refinery stocks that are coming under selling pressure today include Tesoro Corporation (TSO), HollyFrontier Corp (HFC), Western Refining, Inc. (WNR), and Alon USA Energy, Inc.(ALJ). All of the leading oil refinery stock in the sector seem to be trading in tandem with each other at this time. PSX stock seems to be the leading the industry group at this time.

PSX

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