If you go the web site mentioned below you will see the crack spread above is a generic number' showing the direction of the movement of prices. Gives a good indication of things to come. only posted on a monthly basis...gl
If your interested in a bio that is moving on check out navb, gl.
where are you accessing thee 3-2-1 spread numbers?
why is that particular spread important / applicable to CVRR?
I have been using the WTI / Brent as a standin for the 321.
That spread was actually under $3 intraday last week.
Avery day on my excel spreadsheet I calculate the 3.2.1. crack as per IEA meaning with LLS, also the crack with WTI and the Brent using the 2.1.1. You have to use the IEA GOM gasoline price and diesel. If you use the lowest price WTI and the highest Gasoline and Diesel, the crack will be larger. This is the case with LLS which is priced higher than even Brent. On the other hand LLS is heavy crude fetching more diesel, the reason LLS has a high price. IEA by using LLS in the Crack spread is misleading, since high priced crude with high priced gasoline and diesel will get low crack spread.
Using ALDW has example, it does not buy LLS but WTI from the Permian and at a discount if theu buy WTS. I do not know ALDW discount. Friday July 12 the crack was: WTI = $20.95 per barrel. LLS = $16.57 per barrel. Brent = $34.38 per barrel. My guess is that ALDW crack should be higher, if you know their WTI feedstock discount. It is possible for CVRR to buy LLS, but unlikely.