tag:blogger.com,1999:blog-5011732.post3126378145773269016..comments2008-04-13T13:55:29.766-04:00Jonathan Heller, CFA, Editorhttp://www.blogger.com/profile/04330933364296303215noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-5011732.post-10697829591456087062008-04-12T15:54:00.000-04:002008-04-12T15:54:00.000-04:00Sarcasm aside, volatility in oil patch prices is effecting refining margins.<BR/><BR/>The NYMEX May/June crack spread (gross refining margin) shrank by more than $6 per barrel to $33.21 as the result of this week's oil price rally. At that level, refiners capture a gross profit of 10% from each barrel of oil. The profit margin stood at 12.5% the previous week. <BR/><BR/>(The crack spread is monitored weekly by www.HardAssetsInvestor.com and updated after the release of the Energy Department's weekly inventory report on Wednesdays).<BR/><BR/>You can hedge against oil price hikes by using low-cost exchange-traded funds that track crude oil futures prices, such as the United State Oil Fund (USO), the United States 12-Month Oil Fund (USL), the DB Oil Fund (DBO), or their exchange-traded note cousin, the iPath S&P/GSCI Crude Oil ETN (OIL).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5011732.post-63337157233174540792008-04-12T12:18:00.000-04:002008-04-12T12:18:00.000-04:00You can't tell if he's being sarcastic?! Are you brain dead?!<BR/><BR/>Clyde knows whereof he speaks and these politicians are the lowest of the low. God save us from solutions out of Washington! GO XOM!!-Janehttp://www.blogger.com/profile/17900608445530223783noreply@blogger.comtag:blogger.com,1999:blog-5011732.post-64434975780554300852008-04-11T09:26:00.000-04:002008-04-11T09:26:00.000-04:00I can't quite tell whether you are being sarcastic or not? I think you are. Another point is this: Do the politicos think that Exxon will just swallow these new taxes? No, guess where they'll be paid...AT THE PUMP! By us! How's $4.25 a gallon sound?<BR/><BR/>KP CPAAnonymousnoreply@blogger.com