The question really should be: Why is HFC so weak? The closing gap between Brent and WTI has always been priced in. They are poised for another season of strong margins and good earnings. We are just about to enter driving season. This should be a great year! It's not often that refineries have great earnings through the winter months. They usually rely on making their money from May to September, but this years was different, not only will they have great earnings in the summer - they also had great earnings in the off season!