Why Wall Street Is Bullish On Refiners

WTI tumbles below $47 as negative sentiment about excess crude
supply grows in light of extended refiners’ shutdowns, while Wall
Street piles on with more detailed estimates about Harvey’s impact
on U.S. oil and refinery production. (Click to enlarge)As oil
slides, crack spreads have stabilized near the highs of the
session, on concerns about gasoline availability, with Tudor
Pickering saying that crack spreads could continue to rise in
coming weeks in other U.S. regions served by the Gulf Coast
refining center. (Click to enlarge)As reported…

WTI tumbles below $47 as negative sentiment about excess crude
supply grows in light of extended refiners’ shutdowns, while Wall
Street piles on with more detailed estimates about Harvey’s impact
on U.S. oil and refinery production. (Click to enlarge)As oil
slides, crack spreads have stabilized near the highs of the
session, on concerns about gasoline availability, with Tudor
Pickering saying that crack spreads could continue to rise in
coming weeks in other U.S. regions served by the Gulf Coast
refining center. (Click to enlarge)As reported…