Par Pacific Sees Tight Inventories Supporting Refining Outlook

Earnings
โดย Zacks Investment Research·US·Read original
Summary · why it matters

Par Pacific Holdings reported strong second-quarter results and expects tight global product inventories to support refining fundamentals in the third quarter. Management said the company's combined refining index totaled $31.34 per barrel in July, indicating a strong refining environment at the start of the third quarter. The company cited lower product exports from the Persian Gulf and Russia, conservative refinery operations by Asian refiners, and limited growth in Chinese refined-product exports as supportive factors. Par Pacific operates an integrated downstream network with 219,000 barrels per day of refining capacity across Hawaii, Montana, Washington and Wyoming. Its shares have surged 103.8% over the past six months, and the stock currently carries a Zacks Rank #1 (Strong Buy).

Impact on stocks 3

Energy▲ · 2 stocks
Par Pacific Holdings Inc
PARR
▲ PositiveSupplyrelevance

Tight global product inventories and supportive factors like lower exports from Persian Gulf/Russia and limited Chinese exports boost refining margins.

PBF Energy Inc
PBF
± MixedSupplyrelevance

As a peer refiner, tight inventories may benefit PBF, but the article does not discuss its specific operations.

Synthetic Biology (non-pharma)▲ · 1 stocks
Valero Energy Corporation
VLO
± MixedSupplyrelevance

As a peer refiner, tight inventories may benefit Valero, but the article does not discuss its specific operations.

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