US Stock Market Move | The concept of oil and gas refining and sales is boosting PBF Energy (PBF.US) by over 5%.

On Wednesday, the oil and gas refining and sales concepts of US stocks rose, with PBF Energy (PBF.US) up more than 5%, Valero Energy Corporation (VLO.US) up over 4% breaking historical highs, Phillips 66 (PSX.US), Marathon Petroleum (MPC.US), and HF Sinclair (DINO.US) up more than 2%. In terms of news, President Trump said on Tuesday that Venezuela will transfer 30-50 million barrels of sanctioned oil to the United States and sell it at market prices. Phillips 66 stated that the potential restart of Venezuela's oil industry will provide a significant boost to fuel producers who rely on heavy crude oil.