Reported about 19 hours ago
PBF Energy Inc. saw a 6.6% increase in shares, closing at $24.39, amid a rise in oil prices driven by ongoing geopolitical tensions, particularly between Israel and Iran. This surge follows a Fed decision to keep interest rates unchanged while anticipating two cuts for the year. Despite a net loss reported for the first quarter, PBF Energy is projecting significant cost savings and robust capital expenditures in the coming years, indicating a proactive approach despite market challenges.
Source: YAHOO