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Stock Market & Financial Investment News

News Breaks
March 11, 2013
06:04 EDTVLO, MPC, TSOFederal ethanol mandate means higher costs for oil refiners, WSJ reports
The cost of complying with a federal mandate to use corn ethanol in fuel has increased sharply in the past few months, putting a squeeze on oil refiners, reports the Wall Street Journal. The price of each credit that refiners need under the law was over $1.00 on Friday, up from just a few cents last year. The new expenses "will have an impact on refinery margins," said Tom Kloza, chief oil analyst with the Oil Price Information Service. Reference Link
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April 17, 2014
09:00 EDTTSOTesoro falls 11.6%
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April 8, 2014
07:52 EDTVLORefiners 2014 EPS estimates raised at Wells Fargo
Wells Fargo significantly raised its 2014 EPS estimates for Alon USA (ALJ), PBF Energy (PBF), Valero (VLO), and Western Refining (WNR) . The firm thinks that the sector is benefiting from better crack spreads and refining utilization so far in Q2, while U.S. exports of refined products jumped 21% year-over-year last quarter. Wells keeps Outperform ratings on PBF and Valero, and Market Perform ratings on Alon USA and Western Refining.

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