Phillips 66 CEO warns of earnings volatility from Hormuz disruptions

By EC Assets · Published 24 June 2026

Phillips 66 Chief Executive Officer Mark Lashier warned that refining and petrochemical earnings could experience volatility. This volatility is due to disruptions in the Strait of Hormuz. The U.S. crude oil price dipped below $70 as tankers transited the Strait of Hormuz. Brent crude also reached its lowest level since before the start of the Iran conflict as more tankers exited the Hormuz strait. Former U.S. President Donald Trump has stated that Iran assured the U.S. there would not be tolls imposed on the Strait of Hormuz. This article is intended for informational purposes only. It does not constitute investment advice.