TSO’s marketing segment
Tesoro’s (TSO) income from its marketing segment fell 24% over 2Q15 to $161 million in 2Q16. This was due to lower marketing margins partially offset by higher volumes of fuel sold.
In 2Q16, volumes rose 6% over 2Q15 to 2.2 billion gallons, but its marketing margin fell 23% over 2Q15 to 10.5 cents per gallon.
Peer’s marketing segment
Tesoro’s peer Marathon Petroleum (MPC) saw a 52% rise in its marketing segment’s performance to $193 million in 2Q16. This was due to higher gasoline and distillates sales volumes coupled with higher margins on the sale of these products.
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