Most of today's leading refinery stocks are declining sharply lower. One leading refinery stock that is coming under severe selling pressure is Tesoro Corporation (TSO), which is trading lower by $2.04, to $50.94 a share. Day traders looking to profit from the quick bounces in the stock should watch for some intra-day support around the $50.76 and $50.24 levels. Should those levels fail to hold as support, $49.25 could get tested.
Some of the other leading oil refinery stocks that are also coming under selling pressure include Valero Energy Corporation (VLO), Alon USA Energy, Inc. (ALJ) and Western Refining, Inc. (WNR). These stocks are highly affected by the price of crude oil. Today, crude oil traded above the $105 level which is a new 52-week high.