# A US-based energy company just lost nearly $1 billion on its oil short positions.

*business · news · 2026-04-06 · CNBC TV18*

## Key points

- Phillips 66 lost nearly $1 billion on short oil and commodity derivative positions in Q1.
- The company incurred $3 billion in collateral expenses due to rising oil prices.
- Phillips 66 secured a new $2.25 billion term loan and increased a securitization facility to $1.75 billion.
- US crude prices surged 68% and diesel futures 62% since the start of the US-Iran war.

**Companies:** Phillips 66
**Countries:** United States, Iran

[Read the full story on CNBC TV18](https://www.cnbctv18.com/market/commodities/a-us-based-energy-company-just-lost-nearly-1-billion-dollars-on-its-oil-short-positions-19881606.htm)

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