Cramer’s Refiner Plays

Cramer’s Refiner Plays

Published: Friday, 22 Mar 2013 | 6:25 PM ET
By: Lee Brodie
Producer

"If you happen to be a refiner, you're probably doing very well right now," said Jim Cramer.

The Mad Money host believes that US based refineries are in the sweet spot, here and now.

That's largely because there has been an explosion in domestic oil production due to recent discoveries in places such as the Bakken and the Eagle Ford. That's helped moderate the price of US crude oil, also known as WTI, to about $93.

Brent, which is the benchmark, is about $15 higher. (The difference is known as the spread.)

Currently refiners are benefitting from that spread because they're able to buy US crude oil at the lower prices, refine it and then sell their products at levels based on the higher priced Brent.

http://www.cnbc.com/id/100583806