Diesel hits record high as Ukraine and Iran wars knock out refineries, fueling inflation worries

Impact · against what's priced in

The record diesel prices and refinery disruptions provide no new catalyst for PSX or VLO, as their current valuations already assume structurally elevated refining margins and geopolitical tailwinds. The news confirms the prevailing bullish thesis already baked into the 90th+ percentile pricing of both stocks.

PSX+0.00

Already priced in

The price assumes

Current elevated refining crack spreads and chemical margins sustaining near peak levels