Brent crude oil prices surged 4% to $113.17 a barrel, marking a five-month high, while the US government announced a $150 million fund under the Defense Production Act to expand refining capacity and lower fuel prices. This move comes as refiners like Valero report record profits, with Valero posting $8.8 billion in refining operating income in Q3 alone. The government funding aims to increase fuel supply but is small compared to the industry's earnings, and any new capacity will take years to materialize. Investors are cautious as political pressure mounts to reduce pump prices ahead of the midterm elections, and refinery margins may have peaked despite near-full utilization rates.
Valero Energy Corporation (VLO) is trading at USD 426.29 with no change in price as of Oct 23, 2026 22:31 WIB on Pluang. The stock shows a dividend yield of 1.13% and a market cap of $122.74 billion. Despite the government’s $150 million funding to expand refining capacity, Valero’s shares remain steady amid high refinery margins and political pressures.
