PBF Energy Reaches All-Time High – Diesel Shortage Causes Margins to Explode

PBF Energy benefits from extremely high refining margins as diesel and other fuels remain scarce worldwide. Following the restart of Martinez, high demand is met with increased own capacity, while refineries in California are shutting down. At the same time, debt is significantly decreasing, and the efficiency program is improving the cost base. The stock of PBF Energy (PBF) has gained more than 200% since the beginning of the year and reached a new all-time high of $82.34 on October 1, based on closing prices. The refining company benefits...