Re: Spread between \"heavy\" crude and \"light sweet\" crude
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Most definitely a spread exists. Refiners that refine "heavy" crude into petroleum products reap the benifits for obvious reasons. Even though this doesn't fit my criteria for a stock pick, I bought some Valero today. They recently bought out an independent refiner of "heavy" crude whose profit growth is enormous.
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I've taken a position in VLO lately as well:
Bought @ $75.55 on 4/26
Bought @ $62.49 on 5/13
Today it's trading at $82.85 [img]/images/graemlins/cool.gif[/img] [img]/images/graemlins/cool.gif[/img] [img]/images/graemlins/cool.gif[/img]
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