Does the overall stock market have any major impact on refiners ? In other words, does refiners tend to go up every year going into the driving season regardless of the equity market ?
?......yes.......no. The entire market can go up or down regardless of "fundamentals". A specific industry sector can diverge from the rest of the market on its own. The seasonal expectation of increased driving during the Summer is no guarantee of bullish performance among refiners.
I would say refiners may go down a bit; since the whole stock market is. Besides oil prices have plateaued.