CVR Energy is Likely to Benefit from an Improving Refining Environment - Stock Breaks out of cup-with-Handle Formation!

CVR Energy is an oil refining company, with the stock jumping due to news of Israeli airstrikes in Qatar against high-ranking Hamas leaders on September 9. The company benefits from the difference between the cost of crude oil and the selling price of refined products such as gasoline, diesel, and heating oil (Crack Spreads). It is precisely the rising Crack Spreads that suggest the company could show a significant margin improvement in Q3. The Q2 numbers, which were released on July 31, led to a better-than-expected revenue. However, the earnings...