Oil Surges 9% on Iran Blockade, Cramer Touts Valero as Top Refiner Pick
VLO has more than doubled off its 52-week low of $130.78.
Summary
WTI crude jumped 9.4% to above $78 and Brent rose 9.6% to over $83 after President Trump announced a renewed blockade on Iran in the Strait of Hormuz. The move triggered a sharp rotation into refiners, with Jim Cramer naming Valero Energy his top pick; the stock gained about 5% on the day. Valero, trading near its 52-week high, stands to benefit from higher gasoline prices and wider refining margins. This follows a strong Q1 where the company posted adjusted earnings of $4.22 per share, well above expectations. The geopolitical supply disruption adds a near-term catalyst to an already favorable refining environment.
At the time of this announcement, VLO was trading at $295.79 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $87.8B. The 52-week trading range was $130.78 to $297.66. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Binance News.