This means that the refiners don't feel they can raise their asking price for refined products, which means that there isn't an unreasonable profit margin being made between refiners and distributors.
Check the development of the shares of the two big refiners Tesoro and Valero. Peak oil is not an energy crisis. It is a liquid fuel crisis.
NYMEX heat July 3.8, Dec 3.95/gallon NYMEX gas July 3.45 Dec 3.3/gallon WTI 136.8 137.1/bbl
Heat cracks are $23/bbl prompt and $29 for winter. That's plenty! gas is lower $8/ $1.5
That's the problem for US refiners designed for max mogas like Valero and Tesoro.
The people at the Preem/Scanraff in Lysekil invested huge $$$ in equipment to turn Russian heavy/sour into sulfur-free diesel. They are swimming in money now. Peak oil is not an energy crisis. It is a liquid fuel crisis.
