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Friday marks the 100th day since the start of the war between Russia and Ukraine. Ever since Russian President Vladimir Putin decided to invade Ukraine on Feb. 24th, Wall Street has seen a spike in commodities specifically with regards to oil and wheat. Oil At the close of Feb. 23rd, the day ...
Traditional energy companies continue to outperform. Oil and gas prices appear unlikely to substantially decline in the near term. Yield and probable dividend growth are now supplemental reasons to allocate into energy. Current retail and institutional rotation into energy is ...
Valero Energy Corporation (NYSE: VLO, “Valero”) reduced its debt by approximately $300 million through the acquisition of $300 million of 4.00 percent Gulf Opportunity Zone Revenue Bonds Series 2010 (“GO Zone Bonds”). As previously disclosed, the GO Zone Bond...
New York is the latest jurisdiction to remove gasoline taxes, with a suspension of the 16c / gallon charge going into effect Wednesday. Nationwide the price at the pump averaged $4.67 Wednesday, with New York State averaging $4.93. Connecticut, Georgia and Maryland have taken similar measures...
European diesel margins jumped Tuesday, as a confluence of factors led markets higher. Gasoil (diesel) margins in Europe rose to $36.84 per barrel, up $4.12 from Friday's close: Russian diesel exports to Europe fell another 8% in May, are at their lowest level since October 2020, and ~2...
Shortly following Russia's invasion of Ukraine, commodity strategists and investors worked feverishly to forecast the impact of sanctions and self-sanctioning activity on global energy supplies. Estimates ranged from no impact to a ~3.0mb/d loss in global oil production; however, recent data ...
When a recession comes isn't as important this cycle as whether the recession comes before or after a bear market. It's likely a substantial bear market comes in 2022, a couple quarters before an economic recession in 2023. This creates important issues for investors. In this arti...
Regulations mandate US oil refiners do not blend low-cost products like butane into the gasoline pool during summer, as the blended components increase smog. However, the Biden Administration is reportedly considering a suspension of the mandate, in a move that could lead to lower prices at t...
Over the weekend, Saudi's energy minister told the Financial Times that the Kingdom plans to "work out an agreement with OPEC+ .. which includes Russia." Since Russia's invasion of Ukraine, Saudi has been consistent in messaging that the cartel "should not play politics" and that managing oil...
The White House has become increasingly aware of the "worrisome decline" in diesel inventories in the Northeast. According to sources cited by CNN, the White House is considering a release of strategic stockpiles to combat the crisis. Given the reduction in East-coast diesel inventories of ~4...
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2024-07-12 08:00:14 ET Paul Cheng from Scotiabank issued a price target of $173.00 for VLO on 2024-07-12 07:22:00. The adjusted price target was set to $173.00. At the time of the announcement, VLO was trading at $146.64. The overall price target consensus is at $143.82 ...
2024-07-12 07:30:08 ET Wells Fargo analyst issues EQUAL-WEIGHT recommendation for VLO on July 12, 2024 05:55AM ET. The previous analyst recommendation was Equal-Weight. VLO was trading at $146.64 at issue of the analyst recommendation. The overall analyst consensus : BUY...
2024-07-12 07:00:08 ET Roger Read from Wells Fargo issued a price target of $156.00 for VLO on 2024-07-12 05:55:00. The adjusted price target was set to $156.00. At the time of the announcement, VLO was trading at $146.64. The overall price target consensus is at $146.36...