159: Greg Newman – Bringing Stoicism to Trading—and Market Making in Oil Derivatives
Chat With Traders
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Is Refinery Margin a Key Factor in Making Money?
refinery profits were like a really key factor, which something which is quite valuable to know. For example, Reuters, for instance, you can access their refinery margin page and that will give you like daily updates. But we also do model it ourselves because we know the way the refinery profit will work. It's the difference between where they can sell or forward hedge the prices of the products they'll produce from running crude versus the price of crude.
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