Since when is Macquarie such a market mover? Its downgrade of Valero (VLO -4.4%) is hitting...

|About: Valero Energy Corporation (VLO)|By:, SA News Editor

Since when is Macquarie such a market mover? Its downgrade of Valero (VLO -4.4%) is hitting refiners hard; the firm thinks the government's forced usage of biofuels is causing unintended consequences that will negatively impact refiners and may result in high RIN prices. Ratings for Holly Frontier (HFC -2.5%) and CVR Energy (CVI -3.3%) are cut too. Also: TSO -2.9%, WNR -3.7%, MPC -1.5%.