{"id":2236,"date":"2026-08-05T21:14:31","date_gmt":"2026-08-05T21:14:31","guid":{"rendered":"https:\/\/coasttocoastmoverss.com\/?p=2236"},"modified":"2026-08-05T21:14:31","modified_gmt":"2026-08-05T21:14:31","slug":"phillips-66-says-its-the-third-largest-buyer-of-venezuelan-crude-as-trump-blasts-exxon-and-chevron","status":"publish","type":"post","link":"https:\/\/coasttocoastmoverss.com\/?p=2236","title":{"rendered":"Phillips 66 Says It\u2019s The Third-Largest Buyer Of Venezuelan Crude As Trump Blasts Exxon And Chevron"},"content":{"rendered":"<div>\n<h2>Tangent<\/h2>\n<p>Phillips 66 shares fell 1.7% to $202.39 on Wednesday, its lowest point in three weeks. However, the company\u2019s stock has risen 57% since the start of the year, when it traded around $130 per share.<\/p>\n<p>Read more <a href=\"https:\/\/coasttocoastmoverss.com\/?p=2233\">SpaceX Shares Plunge 13% As Elon Musk\u2019s Fortune Sheds $80 Billion\u2014Here\u2019s What Analysts Are Saying<\/a><\/p>\n<h2>Key Background<\/h2>\n<p>Trump\u2019s criticism of Exxon and Chevron comes as both companies have posted massive profits in their respective second quarters, with Chevron reporting $12 billion in quarterly net profit and Exxon reporting $14.5 billion\u2014more than double what it posted in the same quarter last year. \u201cThey\u2019re going to give some of that back to the public and they better cut the retail price, the consumer price,\u201d Trump said. Gas prices in the U.S. jumped to a five-year high in May, and though the average cost for a gallon of gas has fallen to a little over $4, prices are still at levels last recorded before this year in 2022, according to <u>GasBuddy<\/u>. Phillips 66 has joined in the profits. The company reported $3.8 billion in net income in its latest quarter, an $887 million increase from the same period last year. The benchmark is also the highest quarterly profit Phillips 66 has posted since 2022, when Russia\u2019s invasion of Ukraine sent gas prices soaring.<\/p>\n<p>Read more <a href=\"https:\/\/coasttocoastmoverss.com\/?p=2232\">Fauci Faces Contempt Vote Tomorrow\u2014Here\u2019s What To Expect<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Trump has accused Exxon and Chevron of \u201cmaking too much money\u201d amid the Iran war, which has driven up crude oil prices.<\/p>\n","protected":false},"author":1,"featured_media":2235,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Phillips 66 Says It\u2019s The Third-Largest Buyer Of Venezuelan Crude As Trump Blasts Exxon And Chevron - 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