The world faces a shortfall of refining capacity which is keeping gasoline prices elevated. Ukraine's drone strikes on Russia and Iran's attacks in Persian Gulf have knocked out millions of barrels per day of capacity.
The top five performing iShares ETFs in July highlight strong returns in specialized market segments. Driven by gains in China large-caps, positive Ethereum momentum, and renewed geopolitical tensions leading to higher oil prices, July performance leadership came from a diverse range of asset classes.
Blowout earnings from Exxon Mobil, Chevron and Valero Energy this past week showed how the U.S.-Iran war created massive short-term profits in oil. ETFs targeting oil refiners and crude oil price volatility were among big winners over the past six months.
U.S. biofuel imports are not rising quickly enough to help the industry comply with the Environmental Protection Agency's renewable fuel blending mandates, as imports no longer benefit from key U.S. tax incentives, a Valero Energy executive said on Thursday.
Valero Energy said its earnings surged in the second quarter, thanks to sturdy fuel demand.
Refiner Valero Energy surpassed Wall Street expectations for second-quarter adjusted profit on Thursday, helped by higher refining margins as tensions in the Middle East increased demand for U.S. fuel exports.
SAN ANTONIO--(BUSINESS WIRE)--Valero Energy Corporation (NYSE: VLO, “Valero”) today reported net income attributable to Valero stockholders of $3.7 billion, or $12.62 per share, for the second quarter of 2026, compared to $714 million, or $2.28 per share, for the second quarter of 2025. Excluding the adjustments shown in the accompanying earnings release tables, adjusted net income attributable...