U.S. refiner Phillips 66 CEO Mark Lashier said on Tuesday it would take time for crude supplies to clear through the Strait of Hormuz, as uncertainty remains around a return to normal shipping activ... ...

CEO & Chairman Yes, Matt, I think that's top of mind for everybody across the industry. It's -- we're all hopeful that the Strait is open, stays open, that it gets resolved in a permanent structural way. But I think it's going to be pretty tenuous. There are ships coming out now. I think that there's somewhere between 90 million and 100 million barrels trapped in the Strait. That will work its way out over time. Then the question is who will be brave enough to send ships back in? Will it be able to get insu ...

Phillips 66 (NYSE:PSX) 2026 Conference June 23, 2026 08:00 AM ET Speaker2 Great. Good morning. Thank you all for joining us this morning at the conference. I have the pleasure of introducing Mark Lashier, Chairman, CEO of Phillips 66. Mark has been in the role since July of 2022. Prior to that, most recently, he ran CP Chem Business, having started his career with Phillips Petroleum in the late 1980s. Mark, thanks very much for joining us today. Speaker0 Matt, glad to be here. Speaker2 With the recent reope ...