RE:321 Crack Spread plummets 50% in 30 daysGood morning Migraine, don't want to split hair with you but i keep track of daily spreads.
On Aug. 25th the 3-2-1 was $39.97US or $54.32 CDN
And as you point out it has fallen quite a bit
As of this writting, the 3-2-1 is $24.34US or $32.85 CDN.
This $32.85 is still much higher than the average of the last 17 years of the mid to high teens.
What some may not get is that while the spreads have gone down, the rise in WTI as more then made up for the lower refining margins.
As per my calculations.EPS for SU were going to be higher by 47 cents at the end of August.
Fast forward 1 month and EPS are going to be higher by about 60 cents.
From the end of August to today, uptream is adding 22 cents and downstream is substracting 9 cents on the EPS
At the end of August WTI was $83.63 US or $112.97.Right now, $92.81 or $125.23
For my EPS addition or substraction, i use very conservative numbers.
650,000 b/d for upstream and 420,000 b/d for downstream
Thank for all of your informative posts