Guess what? The gas crack is starting to shrink! As you probably know we’re talking about the difference between the price refiners pay for crude oil versus the price at which gasoline is sold. Does this mean you can anticipate a little less pain at the pump – and are refiners still in play?
Eric Bolling explains to the panel that the crack spread is falling apart because capacity is coming back and we’re halfway through the driving season. Also he says imports of gasoline made up the slack that America was experiencing during the refinery outages. Consequently, barrels are plentiful and prices are starting to fall.
He says the trade is to roll out of the refiners and put that money into integrated oil companies.