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Tesoro’s (TSO -7.1%) surprise warning of a Q4 loss on weaker margins slams energy stocks,...
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Thursday, January 5, 2012, 2:53 PM ETTesoro’s (TSO -7.1%) surprise warning of a Q4 loss on weaker margins slams energy stocks, with Valero (VLO -3.3%) and Marathon Petroleum (MPC -5.6%) deeply in the red. Until Q4, the three refiners had been helped by a discount for crude oil because of an artificial glut caused by infrastructure constraints at Cushing, Okla., but that cost advantage has narrowed.
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