Texas energy firm Phillips 66 (NYSE:PSX) stock moved into positive territory after it moved to help satisfy the post hurricane fuel shortage.
Philips 66 was able to temporarily charter a Marshall Islands flagged vessel thanks to a waiver to the Jones Act which would otherwise prevent the use of non-US flagged ships.
The vessel is being used for transport from the group’s 260,000 barrel a day refinery.
In pre-market dealing, Phillips 66 shares were up 35 cents or 0.4% at US$86.60.