Crack spread 101 (Introduction)
Taking a look at crack spreads
A major component that drives refiner valuations is the crack spread. In this series, we look at different aspects of this metric, such as components of crack spreads, how they can differ across refinery locations, and how they affect refiner profits. Explore the parts of this series below to learn more about crack spreads.
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Parts of this series
- What’s a crack spread?
- Factors that affect crack spreads
- Crack spread volatility
- Effect on refiner margins
- Regional differences
- Recent trends in crack spreads
We’ll begin with Part 1: What’s a crack spread?