U.S. refiners outperform oil majors with record diesel margins amid Hormuz disruptions
A basket tracking three U.S. refiners in equal weights increased 10.1% last week, outperforming the S&P 500 by 11.7 percentage points. U.S. cash trading was paused for the weekend following declines on Friday. Shares of Valero Energy advanced 10.3%, Marathon Petroleum climbed 10.2%, and Phillips 66 was up 9.8%.