NEW YORK (TheStreet) -- Shares of Valero Energy (VLO) - Get Report are gaining by 5.01% to $60.37 on Wednesday, as some energy and related stocks are driven into the green due to the sudden rally in the price of oil this afternoon.

Oil prices climbed on technical trading and mixed demand data out of the U.S., Reuters reports. Earlier the commodity plummeted following negative comments from Saudi Oil Minister Ali al-Naimi.

Crude oil (WTI) is up by 1.04% to $32.20 per barrel and Brent crude is soaring by 3.55% to $34.45 per barrel.

The oil minister said on Tuesday that production cuts will not happen, but more countries will join a deal to freeze production.

"Al-Naimi's remarks punctured an oil-price rally that has lacked substance," David Hufton of broker PVM told Reuters. "The market correctly interpreted the presentation as bearish."

Oil parred losses after government data showed a smaller build in U.S. crude supplies and strong demand for gasoline.

Separately, TheStreet Ratings has set a "buy" rating and a score of B+ on Valero Energy stock. This is driven by several positive factors, which TheStreet Ratings believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks it covers.

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The company's strengths can be seen in multiple areas, such as its notable return on equity, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. TheStreet Ratings feels its strengths outweigh the fact that the company shows low profit margins.

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: VLO

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