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Andeavor's 3Q17 Stock Performance Beat the S&P 500

PART:
1 2 3 4 5 6 7 8 9 10 11 12 13 14
Part 14
Andeavor's 3Q17 Stock Performance Beat the S&P 500 PART 14 OF 14

How Andeavor’s Regional Crack Spreads Moved in 3Q17

Series overview

In this series, we’ve reviewed the market performance for Andeavor (ANDV) stock in 3Q17. Now we’ll look at the regional crack spread trends in 3Q17.

How Andeavor’s Regional Crack Spreads Moved in 3Q17

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Andeavor’s regional crack spreads

The regional crack spreads for Andeavor’s (ANDV) refineries are indicators of ANDV’s expected margin in 3Q17. The major regional indicators are the Midcontinent WTI (West Texas Intermediate) 3-2-1 crack spread, the Pacific Northwest ANS (Alaska North Slope) 5-3-1-1 crack spread, the West Coast ANS 3-2-1 crack spread, and the Gulf Coast WTI 3-2-1 crack spread.

Regional cracks in 3Q17

On a year-over-year basis, all four crack spreads rose in 3Q17. The Midcontinent region saw the highest rise in its margin of 40% YoY to $20.1 per barrel in 3Q17. Next came the Gulf Coast and Pacific Northwest, which rose 35% YoY and 25% YoY to $20.2 per barrel and $22.1 per barrel, respectively, in 3Q17. The West Coast saw the lowest rise of 8% YoY to $21.8 per barrel in 3Q17.

Also, quarter-over-quarter, in 3Q17, all four regions saw a rise in their cracks. The Gulf Coast saw the highest rise of 54% QoQ, followed by the Midcontinent (39% QoQ), West Coast (28% QoQ), and Pacific Northwest (25% QoQ).

These changes suggest a higher refining margin for Andeavor in 3Q17 YoY as well as QoQ.

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