baerrus

West Texas Intermediate versus Brent Crude Oil

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This is what is known as refining crack spread. The difference between US local             crude prices (WTI) and gasoline, kerosine etc, which are tied to Brent Crude prices. The wider the spread, the more margin can Oil             Refiner pocket. This spread is what really drives oil             refining stocks , not the price of Oil             itself. Today the spread shrunk from $7 to $6 and look what happened to the refiners.

VLO             -5.75%
HFC             - 6.24%
PSX             - 2.21%
MPC             - 4.6%


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