Chevron (CVX) and Exxon Mobil (XOM) have warned high fuel prices will likely remain even as oil prices drop, since the wars in Russia and the Middle East have left global refining capacity short, Kevin Crowley of Bloomberg reports. While gasoline, diesel, and jet fuel prices usually change with crude oil, this link is growing tenuous as more refineries are knocked offline.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CVX:
Disclaimer & DisclosureReport an Issue
