Stock Track | Delek US Soars 5.09% as Oil Prices Surge on Venezuela Supply Concerns

Stock Track

Feb 28

Delek US Holdings, an independent refiner and logistics company, saw its stock price soar 5.09% in Thursday's intraday trading session. The surge came amid a broader rally in the energy sector, fueled by a spike in oil prices after President Trump revoked Chevron's license to operate in Venezuela.

The revocation of Chevron's license raised concerns about a potential reduction in global oil supply, as Venezuelan state-owned oil company PDVSA would face difficulties exporting its crude to U.S. refineries due to existing sanctions. This development sparked a rally in oil prices, with Brent crude futures rising 2% to $74.02 per barrel and U.S. West Texas Intermediate crude climbing 2.2% to $70.13 per barrel.

As an oil refiner, Delek US benefited from the increase in oil prices, as higher crude prices typically translate into wider profit margins for refiners. The company's stock surge reflects investors' expectations that the tightening of global oil supplies could further boost profitability for Delek US and other refiners in the near term.

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The company's stock surge reflects investors' expectations that the tightening of global oil supplies could further boost profitability for Delek US and other refiners in the near term.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DK","symbol_name":"Delek US Holdings","start_time":0,"source_url":"","article_id":"1100606090","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1100606090","pubTimestamp":1740676473,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Delek US Holdings, an independent refiner and logistics company, saw its stock price soar 5.09% in Thursday's intraday trading session. 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