Phillips 66 (NYSE:PSX) shares are trading higher by about 3% on Tuesday. The company, along with Kinder Morgan (NYSE:KMI) and HF Sinclair (NYSE:DINO), disclosed a final investment decision for Western Gateway.
The pipeline is expected to improve fuel supply reliability and provide a more efficient transportation network for growing markets across the U.S. West.
The project will also connect Phillips 66’s Central Corridor and Gulf Coast refining assets with its West Coast and Southwest marketing operations.
Phillips 66 will hold a 49.9% stake, while Kinder Morgan and HF Sinclair will own 35.1% and 15%, respectively.
Western Gateway Project
Western Gateway is a proposed 1,300-mile refined products pipeline with 230,000 barrels per day of capacity, connecting St. Louis and Gulf Coast supply points with Arizona and California.
The project includes 900 miles of new pipeline from Borger, Texas, to Phoenix, alongside Kinder Morgan’s existing SFPP assets and Phillips 66’s Gold Pipeline.
It has an estimated enterprise value of $5 billion and is backed primarily by 10-year take-or-pay contracts.
Phillips 66, Kinder Morgan and HF Sinclair will contribute approximately $2.5 billion, $1.75 billion including existing assets, and $750 million, respectively. Completion is targeted for 2029, subject to regulatory approvals.
Critical Technical Levels for PSX Stock
Tuesday’s push keeps PSX extended above its trend stack, with the stock trading 7.3% above its 20-day SMA ($207.79) and 36.8% above its 200-day SMA ($162.90), which is the kind of separation that often attracts trend-followers but can also invite sharp pullbacks.
The 20-day SMA remains above the 50-day SMA and the 50-day SMA is above the 200-day SMA, reinforcing that the longer-term trend is still pointed higher.
RSI is the cleaner momentum lens right now: at 71.79, it signals the rally is getting stretched and buyers may be paying up late in the move. RSI measures how “overbought” or “oversold” price action is versus its recent range, and readings above 70 often mean upside can continue—but with higher odds of volatility or consolidation.
The stock is also trading above its prior 52-week high ($216.08), which can act like a breakout trigger but also a spot where failed breakouts sometimes snap back quickly.
Key turning points to keep in mind:
- A recent swing low formed in June, a swing high printed in July, and RSI first pushed into overbought territory in August—consistent with a late-stage momentum run.
- Key Support: $201.00 — a nearby level where buyers previously stepped in (tie it to the 52-week low zone, a moving average, or a recent pivot zone if supported by the data above).
PSX ETF Exposure and Fund Flows
- State Street Energy Select Sector SPDR ETF (NYSE:XLE): 4.61% Weight
- iShares US Energy ETF (NYSE:IYE): 3.48% Weight
- Invesco S&P 500 Equal Weight Energy ETF (NYSE:RSPG): 4.61% Weight
Significance: Because PSX carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.
PSX Stock Price Movement on Tuesday
PSX Stock Price Activity: Phillips 66 shares were up 3.13% at $222.26 at the time of publication on Tuesday, according to Benzinga Pro data.
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