|Day Low/High||75.36 / 76.94|
|52 Wk Low/High||68.81 / 126.98|
Gas prices spiked again as more refineries went offline.
The move comes as U.S. gasoline prices skyrocketed Thursday morning due to an East Coast pipeline shutdown by the nation's largest gasoline transporter, Colonial Pipeline Co.
Most boards have a playbook to guide them through a crisis, but the magnitude of the disaster can force a board to improvise its plan.
Shares of VLO have triple topped, fade the stock.
Here's what you need to know now for Monday, August 28.
Stocks finished Monday mixed.
Refiners were not hit too hard Monday.
Stocks are mixed at the start of the week.
The aftermath of the torrential downpour in the Gulf Coast region from Hurricane Harvey will impact the area's refineries, pipelines and storage, but the extent of the damage remains unknown.
Prices have been challenging the $70 area for months, but it looks like an upside breakout is possible.
More than 2.2 million barrels per day of U.S. refining capacity was offline due to Hurricane Harvey.
The nation's ability to refine oil has been reduced by almost 15%.
On the long side, it would be national refiners, with Valero Energy at the top of the list; on the short side, it's the bedraggled oil producers.
U.S. stock futures point to a soft open for Wall Street on Monday, and trading in energy markets is volatile.
This wouldn't be the first time players needed to be beaten over the head with a new trend before changing positions.
While shut-in crude oil production is good for commodity prices, shut-in refineries will lead to a surplus of product and a lack of demand for electricity won't help.
Crude futures were testing morning lows shortly after 8 a.m. Thursday, despite relatively positive inventory data out of both Singapore and the U.S. suggesting the global commodity glut is subsiding.
Jonathan Heller writes that three months in, it's time to check in on the progress (or lack thereof) of his Growing Dividends with Stock Buybacks Portfolio.
Brinker International? Not so much.
Coffee prices and oil prices have been trading with an unusually high correlation.
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