On August 28, PBF Energy Inc rose 5.04% in regular trading, trading at $72.21/share, with turnover of $40.60 million. The stock extended its recent rally as record-high crack spreads and persistent geopolitical supply disruptions continued to support the refining sector.

The U.S. diesel crack spread recently settled at $102.20 per barrel, breaking above $100 for the first time in history — four to six times the normal range — setting records in five of the past six trading sessions. Analysts attribute the surge to global refining capacity shortfalls caused by attacks on Middle Eastern and Russian refining facilities, combined with chronic underinvestment. Meanwhile, President Trump is expected to meet with major refiners including PBF Energy next week to discuss measures to lower gasoline prices ahead of November midterm elections.

Morgan Stanley recently raised its Brent crude forecast to $100 and noted that record refining margins provide strong support for the sector. PBF Energy reported Q2 adjusted EPS of $6.22, beating the consensus estimate of $4.11 by over 51%, on revenue of $11.68 billion versus $9.61 billion expected.

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