Crack Spreads Moderating

In Tuesday’s session, crack spreads fell by more than 6%, as investors liquidated any and all commodities. During tonight’s session, thus far, the spreads are working against the interests of the refiners, down 1.3% to $22. With oil rising nearly 1% and gasoline and heating oil up less than 0.3%, the greaseballs over at VLO and WNR will need magic wands and hypnotism machines to keep investors faithful.

Crack spreads hit a high of $25 yesterday.