Why Valero Energy Stock Rallied 10% in January

Why Valero Energy Stock Rallied 10% in January

Shares of Valero Energy (NYSE: VLO) surged 10.3% in January, according to data provided by S&P Global Market Intelligence. Several catalysts fueled last month's rally, including earnings, a dividend increase, and a new low-carbon project. Valero's refining business had its best utilization rate since 2018 at 97%, enabling it to capitalize on the wide gap between crude oil prices and refined product prices.