This sell off is a result of uninformed traders mistakenly believing that all energy companies are hurt by lower crude prices, or an indication that Valero will be hurt by weak demand for crude.
This could not be further from the truth. Valero benefits from lower crude prices for the simple reason that this is a feedstock for refiners.
Lower costs means higher profits, even if revenue declines slightly.
I am long at this price and will average down should it become any cheaper although I don't see much downside. All in my personal opinion.
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