UPDATE 1-Valero kicks off U.S. refiners' third-quarter earnings with profit

Yahoo! Finance Oct 21, 2021 06:44 AM ET

Valero Energy Corp posted a quarterly profit on Thursday, compared with a year-ago loss, as a strong rebound in gasoline demand helped the refiner tide over pressure from soaring crude costs. Margins on refined products have jumped from a pandemic-induced slump in the world's largest fuel consumer, with gasoline and distillate demand returning to five-year averages. The company, the first major U.S. refiner to report quarterly earnings, said net income attributable to its stockholders stood at...