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Refiners Are A No-No Right Now, Stick With US Oil Exploration Companies

TheStreet

TheStreet's Energy Contributor Dan Dicker says the bad news will continue for U.S. refiners and refining stocks which have benefited from a very wide discount of U.S. crude grades. As WTI crude continues to approach the higher global price, look for continued pressure on the refinery stocks and don’t try to pick a bottom, said Dicker. The increasing prices for domestic crude will help US Exploration and Production companies. Dicker speaks with TheStreet's Action Alerts PLUS co-portfolio manager Jim Cramer about the continued shrinking in the price difference between West Texas Intermediate crude and the Brent crude global benchmark.