Managing Editor

Tracking Crack Spreads

User -

It depends on how "short" the "short" in your term is.

And whether or not you can go "short." Seasonally, margins are softening now. If you're especially aggressive--and some might say, foolish--you could sell the independents now.

Or you could wait for heating oil season when retooling and maintenance operations curb production (look for that 5% margin differential ) to buy the stocks.