Phillips 66 (NYSE:PSX), a Houston-based refiner, has announced an increase in its 2026 capital expenditure budget to $2.4 billion. This budget includes $1.3 billion allocated for growth capital and $1.1 billion for sustaining capital. Within its Midstream segment, the company plans to invest $1.1 billion, with $700 million dedicated to growth projects and $400 million for sustaining projects. These investments aim to enhance Phillips 66’s integrated natural gas liquids (NGL) strategy by expanding pipeline and fractionation capacity in key basins and boosting gas processing capabilities.
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Over the past month, Natural Gas prices have experienced a decline of approximately 5.99%. The 1-day technical analysis signal for Natural Gas is currently a Hold. This suggests that while there is some bearish sentiment in the short term, the market may be awaiting further developments or confirmations before making decisive moves. Investors can explore more updates, prices, and analysis across global markets at Commodities.