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?
I've posted on Caltex before as I love the way it's SP sometimes...
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Last
$33.20 |
Change
0.065(0.20%) |
Mkt cap ! $7.897B | |||
| Open | High | Low | Value | Volume |
| $33.23 | $33.35 | $32.84 | $12.06M | 363.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 28 | 1511 | $33.19 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $33.20 | 570 | 21 |
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| Last trade - 15.38pm 08/07/2024 (20 minute delay) ? |
| ALD (ASX) Chart |