The devastation in the state of Oklahoma due to recent tornadoes has been terrible over the last 24 hours. With the ravaging of the storm through the town of Moore it has generated destruction totaling millions of dollars and also stole the lives of some not ready to leave this earth. We keep all effected by the storm in our hearts and minds and wish them health and happiness.
The markets have been seemingly unharmed from the storm as the market continues its slide to try to correct from July barrel trades (for gasoline). Not even 5 days ago there was a .56 differential between June and July trades in Group 3 as there were inventory shortages throughout the mid-con due to both short positions and refinery issues. With the Coffeyville refinery coming back online and HollyFrontier's El Dorado, KS refinery coming back on we are seeing the market start to correct itself. With the time left in the month of May, we should start to see values get back in line with July scenarios.
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