Valero Energy is trading 12.91% down now at $302.39 after a sharp extended-hours reversal following an 80%-plus 2026 rally.
- Refiners have benefited from unusually high processing margins caused by Middle East and Russian supply disruptions.
- Recent reporting warns those geopolitical premiums could reverse.
- The broader market was weaker, but sector-specific repricing appears more relevant than modest index declines.