My niece just worked as a government intern for three months this summer..made 5000 bucks...told me that she could have done the 3 months of wk in 3 days...I wk my #$%$ off in my job...im so friggin #$%$..
Whichever formula u use the spread seems to be widening by the hour..by the minute..Brent/wti is back up to 8.70 when it was in the 6's just a few days ago and even not that far back....nobody seems to notice so this must be a normal jump and i shouldn't be getting my rookie..lost my shirt in refineries..self get excited..
whether this form is right or wrong in just an hour the spread is now up to 15.69...this is not normal is it?...wti/brent diff is now at $8.70 when it was a dollar less early this am...
as of 820 am 10-10-13
Calculating it quickly is as follows:
1 - heating oil barrel ( 3.0335 per gal x 42 gal per barrel ) = 127.407
2 - gasoline barrel ( 2.651 per gal x 42 gal per barrel ) = 111.342 + 111.342
Sub total ( 127.407 + 111.342 + 111.342) = 350.091
3 - crude oil barrels = 101.87 + 101.87 + 101.87 = 305.61
Sub total 350.091 - 305.61 =44.481 for 3 barrels OR $14.827 for 1 barrel.
TOTAL $14.827 per barrel. Correct me if I'm wrong, Less
3-2-1 crack spread is based on..(PER LIZA)
3 barrels of crude = 2 barrels of gasoline and 1 barrel of heating oil ( distillate)
add up those values and deduct the cost of crude and divide by 3 to get the spread per barrel
Gotta have a standard here...3-2-1 spread i thought was based on the price of heating oil..the price of gas and the price of WTI which is what i was using with the formula posted by someone here earlier...anyway you look at it...the spread is getting larger...bottom line..just looking at the spread between WTI and brent and it is getting real close to 8 bucks when it was even not too long ago.
The Spread is spreading...up to $15 a barrel (3-2-1 WTI) this morn...thats up from a low of 11.30 just 10 days ago...too early to change any f-casts?....(Heating oil times 42 +gas times 42 times 2 minus WTI times 3 divided by 3..right?)
The 3-2-1 spread has gone from as low as $11.30 a barrel to around $15 this morn...that has happened in the last 10 days...keep hope alive!.(please correct me someone if my math is wrong)
What will th cause of the 6th dist dropping back down?...WTI is dropping pretty good right now...101.50 last cked..3-2-1 spread hanging at 13+..
using the 3-2-1 formula that has been posted the spread has been running 13 + lately..was 12.50 at the beginning of the month...just saw where WTI has dropped to 101.50...not all bad news!