“Shocker! Jobs Report Hits Markets, Fed Rate Hike? Markets, Gold, Bitcoin Sell”
PSX faces downside as crack spreads shrink; expect a pullback to low 200s in the next few months.
you have refiners like Valero and PSX which have a massive crack spread right now and it's so ridiculous because they are literally printing money because the the margins of this are so like what they're charging you and I to drive etc at the gas pump compared to what they're getting that oil for.
Um it is massive right now. I do expect that to shrink after Labor Day and I have highlighted Valero as one of my favorite shorts here over the next couple weeks.