Refining and marketing gainers
In this part, we will look at the top percentage gainers from the refining and marketing sector in the US for the week starting January 29, 2018. To compile the list of top refining and marketing gainers, we have selected refining and marketing companies with market capitalizations of greater than $100 million and last week’s average trading volume greater than 100,000 shares.
World Fuel Services: The only gainer this week
In the current week starting January 29, 2018, World Fuel Services (INT) is leading the list of gainers in the refining and marketing group. INT increased from last week’s close of $27.64 to $27.89 on January 31 – an increase of almost 1%.
The up move in World Fuel Services came with no specific news release from the company this week. After trending down for most of 2017, INT was rising since November 16, 2017, and gained ~11% before making a top on January 3, 2018. Since January 3, INT is drifting downward and is down by ~4%.
In the fourth week of January 2018, INT crossed below its 50-day moving average. As of January 31, INT is trading at $27.89 whereas its 50-day and 200-day moving averages stand at $27.94 and $33.31 respectively. In 2017, INT fell by ~38%.
In general, so far, this week, VanEck Vectors Oil Refiners ETF (CRAK) is down by ~1.6% due to the lower gasoline (UGA) prices. To know more about how gasoline prices are performing this week refer to part one on this series.
In comparison, the SPDR Dow Jones Industrial Average ETF (DIA) is down by ~1.7% in the current week.