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The announcement came as the White House sought to quell concerns about rising energy prices due to the war in Iran. Trump is weighing several possible options to lower the cost of oil and gasoline.

The fuel-making plant has been slated to close since 2024 and the facility, once capable of processing 139,000 barrels of oil a day, refined its final barrel of crude in late 2025.

The rise in fuel production is being driven largely by the ramp-up of the Dos Bocas plant. The refinery operated at 77.5% of its installed capacity in December, its best performance to date.

New York Harbor diesel’s premium to European futures surpassed 40 cents a gallon on Jan. 26, the highest level in over three years and continues to hover around that marker.

Chevron Corp.’s El Segundo refinery in Los Angeles County has extinguished a fire that broke out the night of Oct. 2 and shut multiple units.

The EPA proposed requiring large oil processors to make up for biofuel blending obligations waived for small refineries, boosting farmer-friendly stocks.

Phillips 66 is looking to buy liquefied natural gas from the U.S. through long-term contracts and is hiring staff in Houston to do this, according to people familiar.

Phillips 66 is maximizing diesel production to take advantage of strong demand and would consider investing in projects that give its refineries the flexibility to make more of the fuel.

U.S. Gulf Coast refineries are operating at their highest capacity for this time of year since 1992 as they capitalize on strong fuel demand from Mexico and Brazil.

WHITING, Ind. — BP’s sprawling oil refinery in northwest Indiana has resumed normal operations more than six weeks after a power outage prompted the energy giant to temporarily shut down.