Valero Energy Corp. rose 2.3% to $391.61 Tuesday, lifting its year-to-date advance to 140.6% and putting the refiner on track for its best annual performance on record, above its roughly 128% gain in 2005. Refining economics have strengthened sharply: the U.S. ultra-low-sulfur diesel crack spread (the gap between crude costs and fuel prices) is near $106 a barrel, compared with about $33 in January. The move reflects three overlapping shocks: the Hormuz disruption, Russian export bans following drone strikes that knocked out roughly a quarter of its refining capacity, and winter restocking after inventories were depleted. Valero and Marathon Petroleum Corp. more than doubled per-barrel refining margins in the second quarter and returned over $5 billion to shareholders. Both companies are now among the best-performing S&P 500 stocks year to date, while the VanEck Oil Refiners ETF has gained 71%.