Crack spread 101 (Introduction)

Market Realist

Taking a look at crack spreads

A major component that drives refiner valuations is the crack spread. In this series, we look at different aspects of this metric, such as components of crack spreads, how they can differ across refinery locations, and how they affect refiner profits. Explore the parts of this series below to learn more about crack spreads.

(Read more: Bakken crude begins to trade at premium to WTI, benefiting North Dakota names such as Whiting)

Parts of this series

  1. What’s a crack spread?
  2. Factors that affect crack spreads
  3. Crack spread volatility
  4. Effect on refiner margins
  5. Regional differences
  6. Recent trends in crack spreads

We’ll begin with Part 1: What’s a crack spread?

(Read more: Brent crude prices advanced along with WTI crude, but tighter spread)

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