- 3-2-1 crack spread fell to ~$50/bbl from $72 last month
- Marathon Petroleum shares fell 7.6%
Refining stocks cracked Thursday as the 3-2-1 crack spread dropped to ~$50/bbl from $72 last month. Marathon Petroleum fell 7.6%, Valero 9.3%. Gasoline prices down 21c to $4.27/gal. Factors: Russia diesel deal, Europe stockpile releases, India capacity additions. Potential for cheaper fuel ahead.
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