Most troubling for refiners amid a two-day rout: Crack spreads have tumbled recently, with...

|By:, SA News Editor

Most troubling for refiners amid a two-day rout: Crack spreads have tumbled recently, with gasoline at a premium of $29.81/bbl to WTI today; it was $33 a week ago. As Bloomberg notes, the narrowing is due to a decline in gasoline prices, which hurts refiners: "People are factoring in some refineries coming back online, and we’ve yet to see any pick-up in demand,” one analyst says.