$VLO

Chevron, Exxon Mobil, Phillips66, and Valero reported significant profit increases in Q3 2026 due to high fuel prices driven by wars in Iran and Ukraine. Chevron's profits rose nearly 300%, Exxon Mobil's net income doubled to $15.3 billion, Phillips66's refining income grew 14-fold to $6 billion, and Valero earned $6.83 billion. Companies plan to use profits for debt reduction and shareholder rewards.

Valero Energy (VLO) agreed to buy LyondellBasell's Houston refinery for $320.5M, aiming to boost Gulf Coast refining. The deal, expected to close by year-end 2026, includes 165,000 BPD capacity. VLO's Q3 2026 refining income was $8.8B. Marathon (MPC) and Phillips 66 (PSX) are also expanding refining capabilities. VLO shares rose 125.8% in a year, trading at 5.04X EV/EBITDA.

Marathon Petroleum (MPC) dropped 10% after Democrats won the Senate, despite reporting strong Q3 earnings of $26.93 per share. Valero (VLO), HF Sinclair (DINO), and Phillips 66 (PSX) also fell. Investors may be pricing in potential policy risks from fuel regulations, according to the article.

ExxonMobil (XOM) plans to expand diesel production by 100,000 BPD, allocating $10B from its $100B 2027-2030 capital program. The move aims to improve earnings and cash flow, with investments in U.S. refineries like Beaumont and Baytown. Valero (VLO) and Marathon Petroleum (MPC) are also investing in refining efficiency. XOM's shares have risen 56% year-over-year, with a trailing 12-month EV/EBITDA of 8.59X.

Diplomatic efforts between the U.S. and Iran are in focus for the oil market. Marathon Petroleum (MPC) reported Q3 net income of $7.4B, Chevron (CVX) reported $9.9B, Valero (VLO) reported $6.8B, and Cheniere (LNG) raised its 2026 EBITDA guidance. Brent crude fluctuated, with the EIA forecasting $105/bbl for Q4. U.S. fuel prices remain high, with gasoline at $4.153/gallon and diesel at $6.292/gallon.

Oracle (ORCL) fell 6% after announcing plans to issue $10B in stock and debt. IDEXX Labs (IDXX) rose 20% on strong Q3 results and raised 2026 forecasts. Tempus AI (TEMP) gained 12% on earnings beats and revenue growth. SpaceX (private) climbed 3% on reports of potential Boost Mobile deal. Rivian (RIVN) advanced 10% after a UBS upgrade. Memory and energy stocks declined, while Krystal Biotech (KRYS) dropped 15% on delayed trial data.

The S&P 500 energy index dropped 2.1% as crude oil prices fell 6.2% (Brent) and 6.5% (WTI) due to Middle East peace talks. Energy companies like ExxonMobil (XOM) and Chevron (CVX) declined 2.4% and 2%, respectively. Other energy stocks also saw losses, with Valero Energy (VLO) down 3.9% and Halliburton (HAL) down 2.5%.

ExxonMobil and Chevron reported record refinery output, with ExxonMobil running US Gulf Coast refineries at full capacity. Both companies cited global supply tightness due to geopolitical factors, including Iran's blockade and Ukrainian attacks on Russian refineries. ExxonMobil's Q3 profit was $15.4B, while Chevron earned $9.9B. Valero Energy plans to acquire a Houston refinery for $320.5M, aiming to restart it by late 2027.

Oil prices are up 13-14% month-on-month, nearing $120 per barrel due to U.S.-Iran tensions. ExxonMobil (XOM) and Chevron (CVX) reported strong Q3 profits, with Exxon earning more from refining than production. Phillips 66 (PSX) declared force majeure on butane exports due to a compressor failure. Valero Energy (VLO) will restart a Houston refinery. Saudi Aramco (2222) is offering discounted crude to Europe, while ADNOC aims to reduce Hormuz reliance.

Valero Energy (VLO) saw net ETF selling of $18.8 million on Wednesday, with 36 ETFs buying and 8 selling. Recent trends showed mixed activity, with net buying on Oct. 23 and 26, and net selling on Oct. 27. VLO operates in oil & gas refining, with a market cap of $107.3 billion, and reported trailing-12-month revenue of $153.97 billion, up 33.2% YoY.