321 spreads are still above $34 today, slightly off. It’s worth noting the notable outperformance in the share prices of the refiners, like HFC, ALJ, DK and WNR as of late.
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I remember experts saying levels weren’t sustainable back in April and here we are a week into our third trip over 30. Every other instance of 30+ has been a one day event, except now. Crazy times we live in. I’m going to be so pissed if refiners don’t blow it out of the water.
They know nothing.