Valero cruises past profit estimates as fuel demand soars
Jan 27 (Reuters) - U.S. refiner Valero Energy Corp (VLO.N) posted quarterly earnings well above Wall Street expectations on Thursday, as margins nearly tripled on the back of soaring demand for fuel thanks to a vaccine-induced economic recovery. Gasoline and distillate consumption in the United States improved drastically in the last quarter of 2021, compared with the year-ago period, as more people commuted to offices and took to holiday travel on easing coronavirus curbs. A jet fuel recovery and low product inventories from years of
This Week in Petroleum
Warm weather in the first half of winter led to lower U.S. propane prices and slower inventory draws A warm start to this winter’s heating season (October through March) has led to declining U.S. propane prices, in contrast to crude oil prices that have been higher this month than during October 2021. Propane prices typically follow the price of crude oil and other petroleum products but can vary significantly, depending on supply and demand conditions, particularly in response to winter weather. Since