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Wednesday, 26 February 2020

After January weakness, gasoline crack spreads increase in February (2/26/2020)

U.S. Gulf Coast gasoline crack spreads (the difference between wholesale gasoline prices and crude oil prices that is often used to estimate refining margins) for January 2020 were relatively small compared with the previous five-year (2015–19) average, but they increased in February and as of February 25 are now wider than the five-year average (Figure 1). In January, weak gasoline demand (as measured by product supplied), high gasoline inventories, and high refinery runs all contributed to the narrow gasoline crack spreads. In February, refinery outages, increased gasoline demand, and flat West Texas Intermediate (WTI) crude oil prices contributed to the growing Gulf Coast crack spreads. ... More »
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The Stages Of A Scam

1. Foundation Work: This is the preparations which are made before the scam is put in motion, including the elaboration of the plan, the employment of assistants and so forth.

2. Approach: Is the manner of getting in touch with the scammers victim — often most elaborately and carefully prepared.

3. Build Up: Rousing and sustaining the interest of the victim, rousing his emotions, showing him the chance of profit and filling him so full of anticipation and cupidity that his judgment is warped and his caution thrown away.

4. Pay-off or Convincer: An actual or apparent paying of money by the conspirators to convince the victim and settle doubts by a cash demonstration.

5. The Hurrah: This is like the dénouement in a play and no scam or con scheme is complete without it. It is a sudden crisis or unexpected development by which the victim is pushed over the last doubt or obstacle and forced to act. Once the hurrah is sprung the victim is clay in the scammer's hands or there is no game.

6. The In-and-In: This is the point in a scam act where the conspirator may put some of his money into the deal with that of the victim; first, to remove the last doubt that may tarry in the gull's mind.