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Why ConocoPhillips, Phillips 66, and PBF Energy Stocks Jumped Today

·3 min read
Why ConocoPhillips, Phillips 66, and PBF Energy Stocks Jumped Today
In this article:
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Reports of a long-awaited update coming soon from the Environmental Protection Agency that could boost downstream oil refiners' margins pumped up the oil stocks, although investors in ConocoPhillips had even bigger reasons to cheer. The EPA's Renewable Fuel Standard (RFS) mandates oil refiners to blend renewables like ethanol and biodiesel into their gasoline, diesel, and jet fuel.