15:50 - 9.02.2024

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February 9, Fineko/abc.az. The leading independent refineries in the U.S. finished last year better than analysts had predicted, and expect demand to grow only this year.

ABC.AZ reports that Marathon Petroleum, Phillips 66 and Valero Energy made a total profit of $25.7 bn in 2023, which is lower than in 2022 ($33.9 bn), but the turmoil in the energy market related to the war exceeded the expected forecasts of Wall Street analysts.

As a result, the shares of these companies have already grown by 8-11% since the beginning of the year, exceeding the average for energy stocks included in the S&P 500 index. Investors are responding positively to the situation in the refining sector.