Alon shares soar after crude slate comments

摘要

Houston-Alon USA Energy shares shot up November 4 in a move that appeared to be prompted by CEO Paul Eisman's comments that the refiner intends to run more crude oil priced off West Texas Intermediate at its 83,100 b/d Krotz Springs, Louisiana, refinery. Alon shares traded as high as up 50% and closed at $11.44, up $3.63 or 46.5%. Global Hunter Securities analyst Sam Margolin said he believes Alon's plan to run greater volumes of WTI-priced crude, which benefits from a discount at the bottlenecked Oklahoma home of WTI, was the driver that lit a match under the share price.