VLO - Crude export ban taken off the table

In the White House's scramble to address crude oil and gasoline prices earlier in the month, Energy Secretary Granholm indicated that reinstatement of the crude oil export ban was on the table  A crude export ban would likely be a tailwind for US refiners like Valero (NYSE:VLO) Phillips (NYSE:PSX) and Marathon (NYSE:MPC), as domestic supply of oil feedstocks would trade at a discount to international crude prices, allowing US refiners to source discounted feedstock domestically and sell product internationally at higher prices Today, Secretary Granholm indicated the White House is not considering a crude oil export ban, removing a low-probability catalyst for US refiners

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Crude export ban taken off the table