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via seekingalpha.comPolitics

Trump uses Defense Production Act for $150M to boost US oil and refining

FROM THE WIRE · SEEKINGALPHA.COM

[Los Angeles Refinery] Salvador Avila/iStock Editorial via Getty Images President Donald Trump has invoked the Cold War-era Defense Production Act (DPA) to provide up to $150M to expand petroleum production, storage and logistics at refineries across the U.S. The Department of…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralSupport for US oil production and refining may weigh on crude and product supply.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01President Trump invoked the Defense Production Act for up to $150M.
  2. 02The funds aim to expand petroleum production, storage and logistics at US refineries.
  3. 03The Energy Department says the move will boost gasoline and diesel output.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Delek US Holdings, Inc.DKStock75.79 USDMarket closedtoday -3.11%Positive
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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