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YGRN - Oil Processing Spreads Sitting Near The Recent Highs With Valero Shares
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
In a previous article for Seeking Alpha, I highlighted that the price action in the gasoline and distillate crack spreads was supportive of both the VLO shares and the price of crude oil. Valero Energy Corporation (VLO) refines crude oil into oil products. The company does not take the risk of the price of the input, crude oil. Nor does it take the risk of the output, gasoline, and distillate products. It is the refining margin or the level of the differentials between the price of oil and oil products that determines