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Subject:  WNR up 10.8% Date:  6/22/2011  4:16 PM
Author:  TMFGebinr Number:  390 of 1287

Hi everyone,

Western Refining got a nice boost to its stock price today after Deutsche Bank upgraded shares from hold to buy. In particular, it called out a widening gap between the Brent and WTI crude pricing. Because Western Refining buys WTI and not Brent, it's getting a cheaper price on its crude oil inputs, which leads to a higher gross margin.

I'm in the middle of putting together an article that describes this in more detail and what might be causing this difference, which I expect will be published sometime next week.

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