Core Insights - Insurance buyers are in a strong position to optimize cost and coverage as the market transitions into 2026, according to the Energy Market Review Update by Willis [1] Upstream Energy Market - The upstream energy market has experienced a record year of low loss activity, attributed to improved risk management and asset quality, leading to continued profitability for insurers [2] - Market softening has accelerated since the previous review in April, with insurers prioritizing retention of well-managed risks and rewarding long-term relationships [2] Downstream Energy Market - Downstream insurers have faced approximately US$3.5 billion in losses this cycle, with claims equaling market premiums, particularly in the US refining sector [3] - Companies with clean loss histories benefit from favorable renewal terms, while those with loss activity may encounter more conservative market conditions, although rate reductions of 10-15% and up to 20-50% in competitive tenders are available [3] Market Trends for 2026 - Insurers reported strong financial results at the end of Q3, with oversupply in capacity and a growth-oriented appetite simplifying complex placement structures, allowing for premium savings for clients [4] - Energy companies renewing in Q4 2025 and looking into 2026 are positioned to negotiate better conditions alongside pricing [4] Specific Market Challenges - Upstream construction faces long-tail risks, but underwriters are more accommodating to these risks where operational relationships exist [6] - Subsea construction capacity remains restricted, creating a micro-hard market, with some insurers considering small amounts of subsea construction to boost premium income [6] - The liability market is transitioning from hard to softening conditions due to healthy capacity and positive loss ratios, contrasting with the US casualty market, which is affected by social inflation and new legislation [6]

Core Viewpoint - Marathon Petroleum Corporation (MPC) is positioned for strong earnings growth, with analysts projecting significant increases in earnings per share (EPS) for the upcoming fiscal quarters [2][3]. Company Overview - Marathon Petroleum Corporation has a market capitalization of $56.1 billion and operates as an integrated downstream energy company, focusing on the transportation and marketing of petroleum products [1]. - The company is based in Findlay, Ohio, and also provides transportation, storage, and logistics services for crude oil and refined products [1]. Earnings Projections - Analysts expect MPC to report a profit of $2.86 per share for fiscal Q3 2025, which represents a 52.9% increase from $1.87 per share in the same quarter last year [2]. - For the current fiscal year, EPS is projected to be $9.76, a slight increase from $9.71 in fiscal 2024 [3]. - EPS is anticipated to grow by 30.8% annually, reaching $12.77 in fiscal 2026 [3]. Stock Performance - Over the past 52 weeks, MPC shares have increased by 17.7%, outperforming the S&P 500 Index's return of 14.8% and the Energy Select Sector SPDR Fund's decline of 3.8% [4]. - On September 30, shares of Marathon Petroleum fell by over 1% due to a drop in WTI crude oil prices [5]. Analyst Ratings - Wall Street analysts maintain a "Moderate Buy" rating for MPC, with 20 analysts covering the stock: eight recommend "Strong Buy," three suggest "Moderate Buy," and nine indicate "Hold" [6]. - The mean price target for MPC is set at $197.65, suggesting a potential upside of 6.1% from current price levels [6].

Core Insights - A new analysis indicates that students using ST Math at Phillips 66-funded schools achieve over twice the annual growth in math performance compared to their peers, resulting in a 12.4 percentile point advantage in state math rankings [1][2] Company and Program Overview - The partnership between Phillips 66 and MIND Research Institute spans over 10 years, providing full funding for the ST Math program to 126 schools, 23 districts, and over 60,000 students nationwide [2][3] - ST Math is a PreK–8 supplemental math program based on the science of how the brain learns, focusing on visual problem-solving to enhance students' understanding and confidence in math [2][5] Community Engagement - Phillips 66 and MIND Research Institute have introduced Family Math Nights to engage students and families in hands-on activities, aiming to build math confidence in a fun environment [4] - The initiative reflects Phillips 66's commitment to community support and educational enrichment, emphasizing the importance of building lasting relationships with the communities they serve [5] Educational Impact - ST Math has a proven track record of improving math proficiency through its unique approach, which benefits diverse learners, including English Learners and Special Education students [5][6] - The program fosters a growth mindset and resilience in problem-solving among students, as evidenced by positive feedback from educators [3]