Refiner Stocks Just Had Their Worst Day Since the Tariff Shock
Published . Updated .
Valero just posted the most profitable quarter in its history, yet its stock suffered a brutal single-session collapse that wiped out nearly $29 billion across three major refiners. The reason why tells you everything about where refining margins may be headed.
Directly affected
- No company is named in this report.
Indirectly affected
- CRAK VanEck Oil Refiners ETF
VanEck Oil Refiners ETF: it holds refiners, whose margins move with fuel prices. Linked by “refiner” (refining) in this story.
- XLE Energy Select Sector SPDR+6.9% 30d
Energy Select Sector SPDR: it holds refiners, whose margins move with fuel prices. Linked by “refiner” (refining) in this story.
- XLI Industrial Select Sector SPDR+0.2% 30d
Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story.
- VLO Valero Energy+0.5% 30d
Valero Energy (petroleum refining): refiners' margins move with crude and fuel prices. Linked by “refiner” (refining) in this story.
- MPC Marathon Petroleum+10.0% 8d
Marathon Petroleum (petroleum refining): refiners' margins move with crude and fuel prices. Linked by “refiner” (refining) in this story.
- PSX Phillips 66+8.4% 30d
Phillips 66 (petroleum refining): refiners' margins move with crude and fuel prices. Linked by “refiner” (refining) in this story.
- XOM ExxonMobil Holdings+10.9% 15d
ExxonMobil Holdings (petroleum refining): refiners' margins move with crude and fuel prices. Linked by “refiner” (refining) in this story.
- CAT Caterpillar-20.0% 30d
Caterpillar (construction machinery and equip): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| CRAKNo price data for this ticker | — | — | — | — | — | — | — |
| XLE | -0.12% | +1.60% | base | +0.34% | +0.71% | +2.23% | after close |
| XLINo price data for this ticker | — | — | — | — | — | — | — |
| VLONo price data for this ticker | — | — | — | — | — | — | — |
| MPCNo price data for this ticker | — | — | — | — | — | — | — |
| PSXNo price data for this ticker | — | — | — | — | — | — | — |
| XOM | -1.00% | +1.85% | base | +1.22% | +1.40% | +3.81% | after close |
| CATNo price data for this ticker | — | — | — | — | — | — | — |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
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Refiner Stocks Just Had Their Worst Day Since the Tariff Shock 24/7 Wall St.
Source: 24/7 Wall St.
This story
| Company | When | Move | Status |
|---|---|---|---|
| XLE | that day | +0.34% | final price |
| XLE | the next day | +0.71% | final price |
| XLE | two days later | +2.23% | still updating |
| XLE | three days earlier | +1.60% | final price |
| XLE | five days earlier | -0.12% | final price |
| XOM | that day | +1.22% | final price |
| XOM | the next day | +1.40% | final price |
| XOM | two days later | +3.81% | still updating |
| XOM | three days earlier | +1.85% | final price |
| XOM | five days earlier | -1.00% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. David J. Taylor sold Marathon Petroleum (MPC), worth $1,001 - $15,000 on 22 Sep 2026. That is 36 days before publication. Filed 1 Oct 2026. View the filing.
- Rep. Pete Sessions sold ExxonMobil Holdings (XOM), worth $1,001 - $15,000 on 14 Oct 2026. That is 14 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Kevin Hern sold ExxonMobil Holdings (XOM) (jointly held), worth $100,001 - $250,000 on 31 Aug 2026. That is 58 days before publication. Filed 25 Sep 2026. View the filing.
- Donald J Trump, an executive branch official, bought ExxonMobil Holdings (XOM), worth $250,001 - $500,000 on 31 Jul 2026. That is 89 days before publication. Filed 22 Sep 2026. View the filing.
- Rep. Lisa McClain bought Caterpillar (CAT) (held by a spouse), worth $1,001 - $15,000 on 28 Sep 2026. That is 30 days before publication. Filed 12 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Caterpillar (CAT), worth $50,001 - $100,000 on 31 Jul 2026. That is 89 days before publication. Filed 22 Sep 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
This story
12 out of 100Price not final
“Refiner Stocks Just Had Their Worst Day Since the Tariff Shock” scores 12 out of 100. The score uses 1 sources. The price is not final yet.