Core Insights - Chevron Corporation is working to restart processing units at its El Segundo refinery after a fire caused partial shutdowns, which is critical for transportation fuel supply in Southern California [1][11] - The refinery continues to operate at reduced capacity, producing essential fuels despite the disruption [2] Incident Details - A fire occurred in the Isomax 7 unit of the refinery, which converts mid-distillate fuel oil into jet fuel, resulting in a significant fireball visible across western Los Angeles [3] - No injuries were reported, and all personnel were accounted for, although local officials issued shelter-in-place advisories for nearby residents [4] Impact on Fuel Supply - The El Segundo refinery supplies approximately 40% of Southern California's jet fuel, and the partial shutdown led to a 33-cent-per-gallon increase in jet fuel prices [5] - Gasoline prices experienced a modest increase of 5-15 cents per gallon, affecting California drivers who already face high fuel costs [6] Investigations and Recovery - Chevron and California's Division of Occupational Safety and Health are investigating the cause of the fire, while the company works to restore operations [7] - The refinery's importance in California's fuel ecosystem highlights the vulnerability of the state's energy market to sudden disruptions [8] Company Overview - Chevron is one of the largest publicly traded oil and gas companies, involved in all aspects of energy, including oil production, refining, and marketing [9] - The company currently holds a Zacks Rank 3 (Hold) [9] Investment Considerations - Investors may consider other energy sector stocks with better rankings, such as Cheniere Energy (Zacks Rank 1), TechnipFMC (Zacks Rank 2), and Oceaneering International (Zacks Rank 2) [10][12][13]

Core Insights - BP's Whiting refinery in Indiana is in the process of restarting operations after severe thunderstorms and flooding caused disruptions [1][2][9] - The refinery, which has a capacity of 440,000 barrels per day, is expected to return to normal operating rates by early next week [2][9] - Fuel prices in the Midwest are anticipated to rise due to the operational disruptions, with potential increases of 10-20 cents per gallon in the Great Lakes states and 15-30 cents in Chicago [3][9] Company Operations - The flooding led to visible flaring at the refinery, which will continue as necessary during the restart to ensure safe operations [2] - BP has prioritized employee safety and reliable operations during the recovery efforts [4] Market Impact - Energy analysts warn that until the Whiting refinery is fully operational, fuel prices in the Midwest will likely be affected [3] - The refinery is a critical supplier of gasoline, diesel, and jet fuel to the Midwest region [3]