Does the crack spread move up inversely to oil as quickly as oil drops? Or does the python need time to digest?Thanks
The crack spread depends on the price of oil, gasoline and heating oil/distillates. You can check the spreads each day here: http://www.oilintel.com/spothome.cfm?loc_id=7The Gulf Coast spread is a good guide for WNR's refineries in the New Mexico region, per the company, and the refinery in VA would use the East Coast spread.
Thanks....and great website.So, even if we have had a drop from $109 to less than $100 and if it continues to $90...contracts must expire, new ones take there place, before the crack will widen to reflect the drop in oil per barrel.