The ‘Debasement’ Trade Is Here, and Commodities Are Sending the Warning
The Treasury doubled long-bond buybacks as diesel cracks hit a record $102.20. Jeff Currie says the gap between scarcity and repression is debasement.
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Marathon, Valero and Phillips 66 are leading the S&P 500 in July as the 3-2-1 crack spread hits a record near $70 a barrel.
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The Treasury doubled long-bond buybacks as diesel cracks hit a record $102.20. Jeff Currie says the gap between scarcity and repression is debasement.
Read original at benzingaTrump’s new Canadian tariffs threaten U.S. energy security and could push gasoline toward $5/gal amid global supply strain.
Read original at benzingaRefiner stocks have significantly outperformed the broader energy sector and S&P 500 due to a global shortage of refining capacity, which has driven crack spreads (refiner profit margins) to record highs of $64. Despite geopolitical conflicts and infrastructure damage reducing global refining capacity by 5 million barrels per day, the author recommends investing in refiners as the capacity shortage will persist longer than oil price volatility.
Read original at the-motley-foolWall Street analysts changed outlook on top names. See complete view of all changes, upgrades, downgrades on analyst ratings page.
Read original at benzinga