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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Phillips 66 reported strong Q1 2026 results with adjusted earnings per share of 49 cents, beating analyst expectations. Joining the trend of positive surprises, HF Sinclair reported an unexpected adjusted profit for the quarter, driven by higher refining margins. Chevron also exceeded Wall Street estimates with earnings of $2.2 billion, supported by its upstream business despite a year-over-year decline. Elevated oil prices, linked to geopolitical tensions involving the U.S., Israel, and Iran, provided a significant tailwind for ConocoPhillips and Valero Energy. Attention now shifts to Marathon Petroleum's upcoming results, which are expected to reflect windfall profits from the Strait of Hormuz closure and a robust cash position.
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