The Crack Spread and Refiners
The Crack Spread is the difference between $WTIC and $Brent crude pricing. The wider the spread, the better it is for refiner pricing and profitability. The spread went parabolic this Spring and the refiners went nuts. Now the spread has pulled back to a rising trend line and appears to be heading higher; good signs for the refiner group.
Refiners move together
If you look at the charts below, you’ll see how similar they all are. Ramp, orderly pull back and now turning higher. I like the group and think they’ll continue moving higher if the crack spread continues to cooperate.
Today, I got long PSX $115 Calls
Take a look at the charts. A lot to like in my opinion
Good Luck; Hope it helps
Thanks for reading!!