VLO - PBF Energy leads refiners lower as California plant hit with unplanned repairs

Refiners were hit particularly hard in a day that saw oil and gas related stocks post broad losses, as Valero Energy (VLO -6.8%) racked up the biggest loss of the entire S&P 500, with Phillips 66 (PSX -3.7%) and Marathon Petroleum (MPC -2.9%) also down sharply along with crude oil prices. Just a week ago, U.S. gasoline prices on average had soared to an all-time high and Bank of America called for a "golden age" in U.S. refining, noting oil refineries have pivoted to biofuels and thus reduced domestic oil refining capacity by nearly 1M bbl/day. PBF Energy (NYSE:PBF) plunged 12.7% on Tuesday in addition to Monday's 13.7% shellacking, as the company reportedly is struggling to resume normal operations at its Torrance refinery in California after a power cut last week. According to Bloomberg, the Torrance refinery has been conducting unplanned repairs on its 90K bbl/day fluid catalytic cracking unit following a

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PBF Energy leads refiners lower, as California plant hit with unplanned repairs