Oil refining stocks have been on the upswing since mid-July, but now they’re in a new phase of growth.
Smaller refining stocks, which are generally more sensitive to changes in commodity prices, are up even more. Tennessee-based Delek US Holdings , for example, has increased 20% this month. Consequently, refiners are struggling to make enough diesel at a time when the global economy has proven resilient and demand is relatively strong. U.S. diesel futures are up more than 40%, to $3.30 a gallon, since they bottomed in May. In the current quarter, crack spreads—a measurement of the difference between crude prices and the prices of the products that refineries make—are up 31% above last quarter, according to Mizuho.
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
Hong Kong stocks decline for fourth day as Japanese stocks dropStocks in the Asia-Pacific region mostly climbed Monday, Sept. 11, with shares in Japan decreasing for the third session and the Hong Kong market down for...
Fonte: MarketWatch - 🏆 3. / 97 Leggi di più »
Tesla and Canopy Growth stocks surge, RTX and J.M. Smucker shares fall, and other stocks on the moveMonday's biggest moving stocks include Hostess Brands, Tesla, Canopy Growth and RTX.
Fonte: MarketWatch - 🏆 3. / 97 Leggi di più »