Gulf Coast Advantage and Strong Balance Sheet Aid Valero Energy

Valero Energy (VLO), Par Pacific Holdings (PARR), and PBF Energy (PBF) are positioned to benefit from constructive refining margins driven by low global product inventories and constrained refining capacity. VLO's Gulf Coast network provides crude sourcing advantages and strong cash generation, with the company returning $2.6 billion to shareholders in Q2 2026. All three refiners are expected to see sustained profitability from the supportive margin environment in the near term.