Marathon Petroleum: Recent Pullback Creates Opportunity Given Share Repurchases (Upgrade)

MichaeIRLopez/iStock Editorial via Getty Images 1D historial lines with the stable to Sep 2023 Nov 2023 Jan 2024 Much of the pressure on shaares in recent weeks has come from the softening crack spread environment. As you can see below, benchmark 321 crack spreads are down to about $2.5 from $29 three months ago. As a reminder, this measures how much refiners make by turning a barrel of crude oil into gasoline and diesel. This narrowing of the spread will, all else equal, reduce refiner profitability. Energ ...