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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 464.70+1.5%Jan 26 4:00 PM EST
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To: KyrosL who wrote (28337)1/24/2008 4:08:10 PM
From: carranza2  Read Replies (1) of 219786
 
Of course crack spreads for WTI suck right now, but that is only a part of the VLO picture.

Look at the rest of the chart more carefully, specifically the differential between WTI and the more sour stuff, then consider that VLO is the premier sour refiner in the US. There are lots of tea leaves in that chart, esp. at the bottom, where there is a bit, a tiny bit, of historical crack spreads, but finding out more about them in more depth is easy as can be.

Then consider that sour is becoming more and more the bulk of the oil which is being refined.

Then consider that it is mid-frickin' January and no one is driving cross-country unless they have to.

A recession, humph, perhaps people won't fly places for vacation, perhaps they'll drive to the beach or to see Granny or whatever.

A 10% swing is just a swing, so what. Irrelevant.

To each his own.
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