The backdrop did most of the work. Brent climbed from about $101 toward $105 to $107 on Middle East supply risk, and refining margins stayed exceptionally wide. Goldman Sachs reiterated Buy on Oct 8, pointing to tight global refining capacity and low inventories, and Valero (+8.9%) moved on the same theme.
My take: this is a margin story more than a crude story. As long as crack spreads stay this wide, refiners can keep outperforming, but if margins normalize the move can fade quickly. Worth watching how they hold up around September CPI and Q3 results.
I covered the full top 10 of the week (energy, towers and a few hard catalysts beat big tech) on my eToro profile: https://med.etoro.com/aw.aspx?A=129366&Ta...af_page_v3