Valero gains as diesel crack spreads hit record levels amid oil surge
-0.91% to $385.43 from $388.95
What moved VLO
- Diesel crack spreads have surpassed $100 per barrel, described as an all-time high for the key refining-margin indicator.
- Brent crude settled up 5.9% at $107.63 a barrel, its highest close since May, while WTI crude closed at $102.48, up 6.7%, as Middle East tensions restrict Strait of Hormuz traffic.
- Valero posted record adjusted quarterly earnings per share of $12.54 in its most recent results, up from $2.28 a year earlier, powered by wide refining margins.
Sources: The New York Times · Yahoo Finance · ad-hoc-news.de