Ike as it relates to the refiners not much damage it appears so VLO should get a boost Monday. Sustained winds at landfall in the 85 range and flooding not as severe as expected.
tesoro posts the crack every monday on there investor relations website under "industry differentials", if you want the gulf crack you can calculate it yourself using this calculator http://www.nymex.com/calc_crack.aspx just input the values from the front page to get the number.
Crack spread probably as NEGATIVE as it has ever has been . . . Still not good for the Refiners. Demand for gasoline falling steeper than the crude oil price. Just horrible.
Horrible, yes, the high gas prices are horrible. Barely tolerable during bubble times and just intolerable during bust times like this, watch it get worse Wholesale reformulated fuel has dropped to $1.97/gallon. That fuel at my local pump is $3.44/gallon. That's what's "horrible"
Catching falling knifes with these refineries. But really, Tesoro below 12? VLO near 20? Are these companies exposed to the CDS or subprime mortgage markets?