135,000 BPD with cracks an extra $8/barrel is an extra $1 million/day in profit. 90 days in quarter. Well folks do the math. If Brent premium continues you could see earnings power over $2-3 per share. I'm skeptical the brent premium stays for more than a month or 2 though.
Yes druggie you are correct...it is most likely it Brent spread will subside but the balancing factor is the normal uptick in spring/summer margins. So it drops $5-6 bucks...that's still a great spread. Just like Mikie's spread...LOL