A shortage of gas ahead of the busy summer driving season has led to soaring prices at the pump and a spike in the shares of oil refining companies. Can investors still profit from the boom?
Prices at the gas pump are headed toward record highs. So can investors still profit?
Shares of oil refining companies have soared by an average of 37% since January, and Tesoro (TSO, news, msgs) is leading with a whopping 68% jump. A unique convergence of factors has positioned the companies to exceed estimates when first-quarter earnings reports start rolling in later this month.
Refiners process crude oil into products such as gas, heating oil, kerosene and diesel fuel. The cheaper they can get the crude and the more they can charge for the refined products, such as gas, the better. Click on the web sight below if you want to read the rest of the article
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