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PBF Energy Inc. Message Board

  • daicheng0722 daicheng0722 Sep 12, 2013 3:22 PM Flag

    up on a day

    when other refiners are still down. what happens?

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    • The crack spreads might be down, but the Brent - ASCI and Brent - WCS spreads have grown a lot. Also, from the presentation it stated that 35% of the crude sourced in Toledo is syncrude. The syncrude discount is now growing, which is positive for Toledo. WCS is now $27 below WTI, which means it is roughly $31 below Brent. If the rail cost for WCS is $17 to get the crude to the East Coast, the margin per barrel will increase as the amount of WCS increases over time. Obviously we are waiting until late 2014 for the 80,000 Canadian barrels it is going to allow for some margin expansion.

      I believe the imported crude is actually going to be a lot cheaper to obtain due to the refineries being down in Europe at the moment. Prices will obviously shift soon with the rapid acceleration of crude production in the Bakken and Canada. There will be some price disruptions and it will be interesting how the PBF traders are able to source crude.

    • something happening...
      what sucks is that most shareholders like myself don't have a clue.
      Lucky I converted some PSX to PBF two days ago for some trade

28.10+0.25(+0.90%)Jan 30 4:02 PMEST

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