Valero Energy rises on third-quarter profit beat

By Reuters News

** Shares of US refiner Valero Energy VLO.N rise 1.9% to $444.99 premarket

** Valero beats Wall Street expectations, as disruptions caused by the Middle East conflict send refining margins soaring during the third quarter

** Co posts Q3 profit of $23.90 per share, beating analysts' estimate of $21.70 — LSEG data

** "Our refineries operated at near-record utilization rates, providing a reliable supply of critical transportation fuels during the quarter" — CEO Lane Riggs

** Valero posts Q3 refining margin of $39.24/bbl vs $13.14/bbl a year earlier

** As of last close, stock up 168.2% YTD

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