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Gold/Mining/Energy : Big Dog's Boom Boom Room

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LoneClone
To: Dennis Roth who wrote (180814)10/9/2013 6:17:01 AM
From: Dennis Roth1 Recommendation  Read Replies (1) of 206325
 
US Independent Refiners
More Cuts than A Hollywood Movie: 2014 Still At Risk of Editing
09 October 2013, 19 pages Report-16 (964.66KB)

Bottom Line: Refiner 3Q EPS have had more cuts than a Hollywood movie.
A surge in crude prices, oversupply of US gasoline, narrowing domestic
crude discounts, weak margins on secondary products (e.g. asphalt),
backwardated market structure, and falling Mid-Con capture rates have been
the culprits we’ve been pointing to for some time (we may have forgotten
some). Of these, the two we are most concerned with for 2014 are Mid-Con
capture rates and gasoline oversupply in the US.
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