Valero Energy Corp. (NYSE: VLO) stock is trading lower nowadays despite rising oil futures after the US House of Representatives passed an energy bill that will pay for $17 billion dollars of tax credits for wind and solar energy production by ending tax incentives for oil and natural gas producers. Though the bill still must pass the Senate and be approved by the President, that could be a not good sign for the oil industry, lengthy a beneficiary of Congressional subsidies. whether you think that stock won’t be rising too far in the coming months, soon after it could be a good moment to look at a bearish hedged play

After hitting a one-year high of $78.68 in July, the stock hit a one-year low of $47.80 in January. that , VLO opened at $60.93. So far nowadays the stock has hit a low of $57.92 and a high of $60.93. As of 11:00, VLO is trading at $58.01, down $2.80 (-4.6%). The chart for VLO looks neutral and improving slightly, while S&P gives the stock a positive 4 STARS (out of 5) buy rating.

Continue reading Valero (VLO) lower on Congressional Energy bill

Original post by Brent Archer

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