PERCEIVED bad news after the offering @$30.00 against the Box shorts and regular industry shorts,
retail jumps on look at the chart 30 minute over the 10 days and you will see advance knowledge of the "export of oil" press releases.
refiners dropped but the "culprits" hammered the issue for pbf. and are now trying to fill the bucket
while manipulating the pps, and they are. if you watch the trades. Daytraders are also taking 15-25cents
every so often everyday
You are probably right or at least partly right, but the chance was for distillates, not oil and it would take 4-5 years for a wholesale change to permit exporting any crude to affect prices and then the refiners are just service companies that maintain a margin between costs and prices. Makes no sense to sell off the refiners. Peter