Refinery Economics
Trying to figure out how futures prices affect spot prices, taking into account refinery economics. I understand that as futures soar, traders are encouraged to store more oil to capture the contango, which in turn reduces storage space and further forces spot prices down (or more generally widens the contango).
But what's the role refineries play amidst all this? How do refinery economics affect physical/future prices?
Hi Analyst 1 in IB - Ind, any of these threads helpful:
More suggestions...
Hope that helps.
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