I've posted on Caltex before as I love the way it's SP sometimes has dramatic rises during times when oil prices are also high. Maybe I'm missing something (happy to be corrected by someone please!!!) but I don't understand why Caltex benefits from a higher oil price??
Caltex is a refiner therefore whether they buy the raw crude product at $50 a barrel or $70 a barrel, I don't see why this should affect refining margins? Unless there is a shortage of refining capacity in the Asia-Pacific region at the moment that is pushing the refining margin higher I don't understand why such a great jump today!! Don't get me wrong...I'm LOVING it. Would just like to understand the fundamentals a bit more.
Any thoughts?
caltex through the roof today...why??
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$33.47 |
Change
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Mkt cap ! $7.975B | |||
| Open | High | Low | Value | Volume |
| $33.45 | $33.81 | $33.21 | $50.97M | 1.521M |
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| No. | Vol. | Price($) |
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| 2 | 675 | $33.47 |
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| Price($) | Vol. | No. |
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| $33.50 | 3000 | 1 |
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