111 days ago • Posted by William Ramstein

Independent refiners see higher profits from crack spread

The crack spread, the difference between gasoline prices and crude oil, was up 5.13%, according to Robert Yawger, energy futures analyst at Mizuho Securities. That means higher profits for refiners still up and running. Independent refiners, so badly battered by the pandemic, have seen a bump. The biggest gainers include shares of PBF Energy and CVR Energy, both up by about a fifth compared with a week ago. Around 82% of PBF Energy’s total refining capacity is outside the Gulf Coast area. Other refiners with mixed footprints, such as HollyFrontier Corp and Valero also have seen gains. Source: WSJ