The run up in distillates in advance of Hurricane Ike coupled with a sell-off in crude as the system began to deleverage itself helped refiners with a brief respite in recent sessions as the crack spread (crude vs. Gasoline & heating oil 321) crossed above $17 for the first time since June. With all indications that damage from the storm was minor, gasoline has come back down although crude continues to outpace it.
Andrew Barber
Director
Andrew Barber
Director
