Pipeline Reversals Could Benefit Valero, Phillips 66

JPMorgan’s Phil Gresh and team believe there are still inefficiencies in the U.S. oil business for refiners like Marathon Petroleum (MPC), Phillips 66 (PSX) and Valero Energy (VLO) to exploit. They explain: Agence France-Presse/Getty Images As US refiners continue to look for ways to access cost advantaged domestic crudes, one major market that has remained relatively expensive despite being geographically close [...]