I can't significantly correlate (4% down in one trading day) with the recent lift of the ban on U.S. oil exports which is expected to narrow the WTI-Brent spread, hence refiners' profits drop if they are forced to pay higher prices to compete with international buyers for U.S. crude. As seekingalpha molded the reason behind recent refineries price drops.
One positive opinion to be considered when markets get less monopoly and oil price behave more elasticity after the 40 years ban on exporting oil. Thus, sustain sort of rational equilibrium status in terms of more stable oil prices on global scale. On the other hand, some refineries such as; VLO regrets the new ban-lift decision as being declared by Bloomberg media.
Yes, I bought some more around 45s. I just don't understand the pull back today. If we have another good earnings report, should see the 70s again maybe. Anyways, I am going to keep buying I think this is a solid play. I might of missed a good opportunity today to buy more.