As Energy Surges on Crack Spreads, Consider Taking Gains on 2 Small Cap Oil Stocks

Refinery worker adjusts crude feedstock valve and gauge as crack spreads boost refining margins and small-cap oil stock outlook. Key Points Crude oil prices have surged since the start of the Iran War, boosting the stocks of oil and gas companies across the industry. One unlikely beneficiary has been downstream refiners that benefit from large crack spreads, which measure the difference in raw and refined petroleum products. If these spreads normalize quickly, refiner margin compression will follow, so ...