Valero Energy's stock plummeted 6.89% during intraday trading on Wednesday, reflecting a sharp decline for the refining company.
The drop in Valero's share price is part of a broader sell-off in the energy sector, driven by a significant decline in oil prices. U.S. energy firms fell in pre-market trading as oil prices slid more than 7%.
The weakness was sector-wide, with other major energy companies like Chevron, Exxon Mobil, and Marathon Petroleum also trading lower during the session.
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