Crack Spread to Soar: Add MPC, XOM and PSX to Your Watchlist
Marathon(MPC) ZACKS·2024-11-20 04:45
Data from the U.S. Energy Information Administration (“EIA”) indicates that U.S. gasoline inventories have unexpectedly dropped to their lowest levels in two years, driven by robust demand and tighter fuel supplies. EIA reports reflect a 6% increase in gasoline demand during the week ending Nov. 8, justifying the strong fuel demand and supporting higher refining margins. With crack spreads anticipated to remain favorable, Phillips 66 (PSX) , Marathon Petroleum Corporation (MPC) and Exxon Mobil Corporation ( ...