The U.S. refining industry has experienced a pullback in recent weeks as the Brent-WTI spread has continued to narrow. Tickerspy?s Oil Refiner Stocks Index (REFIN) has fallen approximately 13.8 percent in the past month. Earlier this week, the spread between the oil contracts fell to its narrowest in over two years. WTI was trading at discount of over $20.00 a barrel earlier this year, but has since fallen to around a $6.00 a barrel discount. Access to cheap U.S. crude has been a major factor for the improving profit margins for U.S. refineries.
HollyFrontier Corp. (NYSE:HFC - News) shares traded in the range of $42.27 to $43.21 Wednesday before settling to close at $42.82, an increase of 1.49 percent. The stock appears to be facing resistance at the $43.98 and $44.79 levels. Shares of HollyFrontier have fallen approximately 12.1 percent in the past month.
More information on HollyFrontier and access to the free equity report can be found at:
www.WallStreetFundamentals.com/HFC
Marathon Petroleum Corp. (NYSE:MPC - News) shares traded in the range of $72.14 to $73.86 Wednesday before settling to close at $72.43, an increase of 0.49 percent. The stock appears to be facing resistance at the $73.33 and $76.37 levels. Shares of Marathon Petroleum have fallen approximately 11.7 percent in the past month.
More information on Marathon Petroleum and access to the free equity report can be found at:
www.WallStreetFundamentals.com/MPC
Tesoro Corporation (NYSE:TSO - News) shares traded in the range of $53.52 to $54.67 Wednesday before settling to close at $54.10, an increase of 1.42 percent. The stock appears to be facing resistance at the $55.38 and $56.76 levels. Shares of Tesoro have fallen approximately 11.6 percent in the past month.
More information on Tesoro and access to the free equity report can be found at:
www.WallStreetFundamentals.com/TSO
Western Refining, Inc. (NYSE:WNR - News) shares traded in the range of $28.13 to $28.87 Wednesday before settling to close at $28.64, an increase of 1.49 percent. The stock appears to be facing resistance at the $29.46 and $30.07 levels. Shares of Western Refining have fallen approximately 9.0 percent in the past month.
More information on Western Refining and access to the free equity report can be found at:
www.WallStreetFundamentals.com/WNR
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Source: http://news.yahoo.com/wall-street-fundamentals-releases-depth-stock-reports-hfc-123000003.html
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