Sundry Photography/iStock Editorial via Getty Images
Valero Energy (NYSE:VLO) is on track to post its seventh consecutive session of gain, with the fuels and petrochemical products company trading 1.90% higher Friday afternoon at $184.05.
The stock was trading close to its 52-week high of $184.45.
Valero gained 7.63% over the course of the last six trading days. Particularly, VLO closed 2.65% up on Tuesday as supply constraints continued to push energy stocks higher.
Comparatively, the S&P 500 energy stocks index gained by 3.90% in the last six trading days, while the broader S&P 500 index lost 1.93% of its value.
Crude oil pushed higher on global tensions and signs of strong U.S. gasoline demand. Also, oil prices are being supported by persistent demand in Europe, analysts at Goldman Sachs Group said.
The Wall Street analysts give the stock a Buy rating on average.
The stock was moving 38% above its 200-day simple moving average and 11% above its 20-day SMA.
