Refiners are the new AI momentum stocks (or have been). But this will end badly. AI slowdown worries as the economy slows quickly with high rates, inflation, high gas/diesel will crush demand. Watch out. 20%-30% declines in these in the next 5 months. $MPC $VLO $PSX
Refiner profit margins for making diesel from crude oil in the US soared to a new all-time record Tuesday, rising above $103 a barrel as the global crunch for the ubiquitous fuel showed few signs of abating.