What is Crack Spread?
Margin between refined products and crude oil prices for refiners.
3:2:1 crack · $25/bbl margin
Crack spread reflects…
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In real work
Crack spread compression signals weaker refinery margins this month.
In the illustration
Three crude barrels feed the column; two gasoline and one diesel barrel roll out, and the gauge reads product value minus crude cost.
Chart the crack spread in your operations platform for the last year and mark the weeks our refinery margin diverged from it by more than two dollars.
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