Refineries are benefiting from a shift in crude exports. Both Saudi Arabia and Russia have cut their oil production---to prop up oil prices.
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.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
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...
Les mer »
Oil futures ease after nearly 10% surge over last two weeksOil futures slipped Monday, easing after a strong run of gains.
Les mer »
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.
Les mer »
Bryant sparks second-half surge as Northwestern pounds UTEP 38-7 to stop skidThe Wildcats (1-1) scored all but seven of their points in the second half in stopping a 12-game losing streak and giving interim coach David Braun his first victory.
Les mer »
No. 11 Texas overwhelms No. 3 Alabama with fourth-quarter surge to win 34-24TUSCALOOSA, Ala. — Fifteen seconds. That's how long it took to turn Texas from an underachiever to a threat, from a program in the wilderness to a program that's legitimately back.
Les mer »
No. 11 Texas overwhelms No. 3 Alabama with fourth-quarter surge to win 34-24TUSCALOOSA, Ala. — Fifteen seconds. That's how long it took to turn Texas from an underachiever to a threat, from a program in the wilderness to a program that's legitimately back.
Les mer »