Oil Refinery Stocks Could Be Running Out Of Gas
This morning, many of the leading oil refining stocks are trading slightly lower on the session. One of the leading stocks in the sector is Tesoro Corp (NYSE:TSO). Today, TSO stock is trading lower by 0.17 cents to $41.29 a share. The stock appears to have a fair amount of daily chart resistance around the $42.00 area on the daily chart. Short term traders can watch for intra-day support around the $40.90, and $40.30 levels.
Some other leading oil refinery stocks that are declining lower today include Valero Energy Corp (NYSE:VLO), Phillips 66 (NYSE:PSX), HollyFrontier Corp (NYSE:HFC), and Western Refining Inc (NYSE:WNR). It is important to note that this sector has been very strong throughout 2012. All of these stocks are still holding up very well on the daily charts at this time, however, many of them will begin to hit resistance levels shortly.