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1 Citation With crude oil prices at an ALL TIME HIGH $126, refineries are taking a beating. Refineries that buy oil and turn it into gasoline and sell it to consumers are at a really rough spot right now. Consumers are pinching pennies and holding on spending. $3.75 a gallon of gasoline is really taking a bite out , technorati.com
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Refiners Brace For More Lean Times 1 Citation After a bruising start to 2008, oil refiners - aided by high gasoline and diesel prices - may be ready to get up and dust themselves off. Refiners have been pummeled by the surge in their biggest cost, crude oil prices. Their profits have been squeezed as prices of products such as gasoline have failed to keep pace. Lately, though, they have been catching up, giving refiners - which make their money from buying crude oil, processing it and selling those products - some breathing room. In fact, technorati.com
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1 Citation Daily Crude Oil Chart (click on chart to view) Even hurricanes have not been able to pull crude oil out of its downward trend. If the damage to oil production out of Texas proves to be not that severe, I would think that next week is going to be more of the same for crude oil. Down. Of course I'm prepared to follow whichever way it goes. Refining is another issue, and it looks like higher gasoline prices will be here for a while. That's why I own my local gas station. http://www.parkland.c, technorati.com
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Falling Oil = Rising Refining Margins 1 Citation Source: Seeking Alpha, Brad Zigler 10/30/2008 The petroleum complex nosed higher in Tuesday?s overnight trading, mainly on technical short covering, as traders readied themselves for the Energy Department?s weekly oil inventory report. Calls made by upstairs analysts for a 1.6 million-barrel build in crude oil inventories seemed to be discounted. When the numbers came out Wednesday morning, crude oil stocks had indeed increased, but by only 500,000 barrels. If Oil Patch analysts were wrong on, technorati.com
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