With second-quarter earnings season picking up stream, Valero Energy (NYSE:VLO) posted a tumultuous drop in year-over-year net income, but the refiner still beat analyst estimates with normalized earnings of $0.96 per share. With the United States' WTI crude benchmark closing the gap with the international Brent crude price, U.S. refiners are looking for new competitive advantages, and Valero is starting to make solid inroads. Check out the video below for more information on Valero's second quarter and see which direction the company is moving.
Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool recommends Enterprise Products Partners L.P. The Motley Fool owns shares of CST Brands. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.