Perhaps 2012 was a bit of a tough benchmark year for many refiners to measure themselves against. After all, last year witnessed the United States' oil boom really gaining traction and a WTI-Brent spread that widened to double digits. Given the wild returns experienced by these companies, it made sense that a return to sea level was in the future.
Fast-forward to today, and you are now seeing market dynamics exerting their strength on companies like Alon USA Partners (NYSE:ALDW). With the price spread and the 3:2:1 crack spread both narrowing, Alon USA Partners' income was cut in half compared to the same period a year ago. If you're wondering how this could affect parent company Alon USA Energy (NYSE:ALJ) and what other factors hampered ALDW this quarter, the video below contains your answers.