Tuesday, December 23, 2025
U.S. lifts Iran sanctions on one unit of Chinese shipping giant COSCO

Tankers sail after U.S. allows sanctions-hit COSCO unit to wind down oil deals

Reuters At least three tankers are on their way to Asia with U.S. oil cargoes after Washington gave temporary approval to wind down transactions with a Chinese shipping company that it sanctioned last month, according to data and shipping sources. In one of the biggest sanctions actions taken by the U.S. government since its crackdown on Iranian oil exports, Washington

https://www.reuters.com/article/us-phillips-66-results/phillips-66-profit-beats-on-higher-fuel-margins-shares-jump-idUSKBN1X41DX-oag360

Phillips 66 profit beats on higher fuel margins, shares jump

Reuters Phillips 66 beat analysts’ estimates for quarterly profit on Friday, as the refiner benefited from higher retail fuel margins, sending its shares up 4.4% to their highest in more than a year. The Houston, Texas-based company, which retails fuel under brand names such as Conoco, 76 and JET, buys refined products from the market and resells them across its