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The 3:2:1 crack spread calculation starts with the spot price for two barrels of gasoline, added to the spot price for one barrel of heating oil, and then subtracts the spot price for three barrels of WTI crude oil.
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The crack spread widens when demand for gas or heating oil increases, as gas and heating oil prices would rise. Meanwhile, refineries need to buy more crude oil to increase production to meet demand, so crude oil prices could rise subsequently.
If a crack spread is a positive number then the price of the refined products is higher than that of crude oil, the raw material, and the spread is profitable. If the spread is a negative number, the products are priced at less than the cost of crude and are not profitable.
Aug 4, 2016 · Furnace Oil – Current weekly consumer prices for furnace oil in 30 Canadian cities plus the average Canada price. Prices by city. Prices by year. All fuels in a combined price chart.
Oil Price Charts. Oilprice.com, in cooperation with its partners, offers over 150 crude oil blends and indexes from all around the world, providing users with oil price charts, comparison...
Oil refineries may trade the crack spread to hedge the price risk of their operations, while speculators attempt to profit from changes in the oil/gasoline price differential.
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USD/CAD and the oil price have a positive correlation. (The y-axis to USD/CAD is reversed.) When oil prices rise, the Canadian dollar . CAD peaked out and reversed before oil prices did in 2008 and 2014. Canada is one of the world's largest exporters of commodities, including crude oil.