3-2-1 crack spread near $70 a barrel: what it means for refining stocks
Investing.com -- Deep inside every gasoline pump transaction, tucked between the price of crude oil and the dollar figure on your receipt, lives one of the oil industry’s most telling profit signals: the crack spread. Right now, that number is at levels that would have seemed implausible two years ago — and the companies positioned to capture it are rewriting their earnings records in real time.
Reported by 1 outlet — Investing.com · Stock Market. See all sources ↓
Investing.com -- Deep inside every gasoline pump transaction, tucked between the price of crude oil and the dollar figure on your receipt, lives one of the oil industry’s most telling profit signals: the crack spread. Right now, that number is at levels that would have seemed implausible two years ago — and the companies positioned to capture it are rewriting their earnings records in real time. The 3-2-1 crack spread — a closely watched refining margin benchmark — stood at approximately $69 per barrel as of Wednesday afternoon in New York, calculated from live futures prices: WTI crude at $84.69/barrel, RBOB gasoline at $3.2617/gallon ($136.99/barrel equivalent), and heating oil at $4.4543/gallon ($187.08/barrel equivalent). That compares to a historical "mid-cycle" range of roughly $15–$25 per barrel, and a then-notable peak of ~$50–$60 during the post-2022 Russia-Ukraine supply crisis.
Read the full report at Investing.com · Stock Market ↗
Why it matters
A world story we're tracking; its significance and source trust firm up as more outlets confirm it.
- What's the story?
- Investing.com -- Deep inside every gasoline pump transaction, tucked between the price of crude oil and the dollar figure on your receipt, lives one of the oil industry’s most telling profit signals: the crack spread. Right now, that number is at levels that would have seemed implausible two years ago — and the companies positioned to capture it are rewriting their earnings records in real time.
- How widely is it covered?
- 1 outlet, average source rating 6.0/10.
- When was it last updated?
- 10m ago.
How outlets are framing the same story
Here's how each outlet is covering the story — compare their headlines and timing at a glance.
- Coverage card1 outlet1CoverageScouting report
3-2-1 crack spread near $70 a barrel: what it means for refining stocks
Sources1TypeCoverageInvesting.com · Stock Market