Refining Stocks Crack. Will Gasoline Prices Drop Next? — Barrons.com
Bullish strength: 25/100
- Gasoline prices have declined 21 cents over the past month, potentially easing fuel costs for consumers.
- Greater fuel availability could help alleviate global refining capacity constraints.
Bearish strength: 75/100
- The 3-2-1 crack spread fell to around $50 per barrel from over $72 last month, signaling narrowing refining margins.
- Marathon Petroleum shares fell 7.6% and Valero Energy shares declined 9.3%.
- Additional refining capacity and increased fuel supplies could intensify pressure on refining margins.
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