U.S. Midwest refiners look like earnings winners in third quarter [Reuters]
Marathon Petroleum Corporation (MPC)
Last marathon petroleum corporation earnings: 1/29 06:30 am
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Source: Reuters
U.S. Midwest refiners look like earnings winners in third quarter | Reuters 4 Min Read NEW YORK (Reuters) - U.S. refiners are expected to post strong earnings for the third quarter, with Midwest producers leading the way thanks to cheaper prices for Canadian crude that pushed down input costs. Independent refiners benefited from a steep discount for U.S. crude oil below the price of global benchmark Brent. WTCLc1-LCOc1 A further discount on oil out of Midland, Texas, may have also helped, though that discount declined in the most recent quarter. Because of transportation constraints, Canada’s oil has a steeper discount than U.S. crude, and analysts believe this should benefit refiners situated in the Midwest that process a higher volume of that country’s crude than those on the Gulf Coast. “Until you see adequate relief up in west Canada, we think the number one region for refining economics in the U.S. will continue to be the U.S. midcontinent,” said Zachary Rogers, a refining and oi
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MPC
Earnings
- 1/30/24 - Beat
MPC
Sec Filings
- 4/26/24 - Form 8-K
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- MPC's page on the SEC website