Refiners had their worst day since April 2025. Marathon is still the S&P 500's sixth-best stock of 2026.
Published · 1 min read
Marathon Petroleum fell 7.36% and Valero 9.24% on 27 October as the S&P 500 rose. Marathon still closed up 168% for the year, sixth in the index.
Marathon Petroleum fell 7.36% on 27 October, its worst day since April 2025, and still closed the day up 168% for 2026. That leaves $MPC sixth among S&P 500 stocks this year, behind Moderna and four technology names. $VLO fell 9.24% and is 12th, up 138%.
All three large refiners fell hard on a day the S&P 500 rose 0.63%. Benzinga tied the selloff to two headlines: Iran agreeing to keep talking with Saudi Arabia, Turkey and Pakistan, and a cargo of Russian diesel heading for New York, which would be the first US import of a Russian petroleum product since 2022. By Benzinga's figures, West Texas crude fell only 1.8% the same day.
One bad day, measured against the year
| Stock | 27 Oct | October to 27 Oct | 2026 to 27 Oct |
|---|---|---|---|
| Marathon Petroleum | -7.36% | +10.3% | +168.1% |
| Valero | -9.24% | -0.1% | +137.9% |
| Phillips 66 | -7.03% | +5.2% | +108.1% |
Valero had been up 10.1% for October at the 26 October close. One session took it back below where it ended September. Marathon kept about half of its October gain. Benzinga notes Marathon has risen for ten straight months, matching its record streak, so the October close decides whether the streak continues.
How the sector looked on the map
Energy fell 2.19% market-cap weighted while the index rose, a gap of 2.8 points. That is the sector's widest shortfall against the S&P 500 since 21 September. The three refiners lost $29.2 billion in market value between them.
The refiners have run well ahead of the oil majors. $XOM and $CVX are each up about 50% this year, less than a third of Marathon's gain.
See it on the site
Sources
- Refiner Stocks Suffer Worst Day Since the Tariff Shock: The Threat Is Not Cheaper Oil — Benzinga (27 Oct 2026)
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