Marathon, Valero and Phillips 66 are leading the S&P 500 in July as the 3-2-1 crack spread hits a record near $70 a barrel.
American refiners are minting money.
The margin they earn turning crude into fuel has just surged to a record high as hostilities in the Strait of Hormuz flare up once again.
The stocks tied to that trade are now leading the S&P 500 in July.
Marathon Petroleum Corp.
(NYSE:MPC), Valero Energy Corp.
Valero Energy and two other refiners topped buy points this week.
Companies like Valero, Phillips 66 and Marathon Petroleum are benefiting from record margins for turning crude oil into fuel.
Refining margins have surged to record highs as crude prices have fallen while gasoline, diesel, and jet fuel remain scarce,…
US refiners hit record profit margins amid supply disruptions from the Iran war. Crude oil reaching a new all-time high by…
Global refining margins have hit record highs, greatly benefiting producers. Yet, while fuel prices remain elevated due to tight…
US refining profitability hits a record high due to declining capacity and strong demand. Crude oil reaching a new all-time high…
US refining profitability hits record high as capacity declines, demand surges
