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Until inventories increase on the U.S. east coast, refiners are likely to continue making...

  • Thursday, February 21, 11:38 AM ET
    Until inventories increase on the U.S. east coast, refiners are likely to continue making handsome profits and their share prices likely will continue rising, Paul Ausick writes. Eastern refinery closures are contributing to a short supply of gasoline; the difference is made up by gasoline imports from Europe, where refiners are bidding up the Brent spot price to acquire crude to refine and send to New York.
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This news story has 9 comments:

  •  
    PBF will benefit too
    21 Feb, 12:05 PM Reply Like
  •  
    [Eastern refinery closures . . . ]

    Who is forcing the closing of refineries?
    21 Feb, 03:25 PM Reply Like
  •  
    Hess is closing one, and I think there have been a few here and there down for maintenance.
    21 Feb, 04:24 PM Reply Like
  •  
    Although I am in love with the group ( PSX, TSO, VLO ) I have two favourites outside the group above : HFC & CLMT . HFC report next week, announced yesterday they were increasing the dividend by 50% and declared a special dividend of .50/ share... this all before earnings.. which some think could hit $9.00/share as expected crack rate spreads are near $30 - 33 PB in the quarter... I bought more of HFC this morning .. check it out please!
    21 Feb, 12:07 PM Reply Like
  •  
    HFC seems on a roll!
    21 Feb, 12:36 PM Reply Like
  •  
    Which ETFS contain refining stocks which could be invested in to benefit?
    21 Feb, 02:02 PM Reply Like
  •  
    Create your own .. why depend on someone else to look after your investments? If you do the homework, PSX, HFC, CLMT, are all excellent and if you throw in EOG you are well on your way to having a high yield, growth stock ETF of your own.. CHeers Mate and take courage and do your own homework!
    22 Feb, 09:53 AM Reply Like
  •  
    Missed the chance to pick up more of VLO when it went down briefly below $44. You lose if you snooze, like I did.
    21 Feb, 03:52 PM Reply Like
  •  
    The refiners are killing oil producers. They pay $15-20/bbl discount to NYMEX and look you in the eye and say "It's the market".

    Drilling and production may slow in the future.
    21 Feb, 11:40 PM Reply Like
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