Despite a 70% increase in Alon USA Energy's share price at the beginning of 2013, the company's investors are back to where they were a year ago. Narrowing crude price differentials, an unexpected refinery shutdown, and higher RIN prices pushed the company's Q2 earnings down both QoQ and YoY. This article outlines the steps that the company is taking to respond to a tougher operating environment.
Investors in Alon USA Energy (NYSE:ALJ) saw their shares reach a new 12-month low this week, ending a period in which prices increased by 70% in three months only to retreat back to their starting point almost as quickly. This volatility has occurred against a backdrop of shrinking crude...
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