Hurricane Harvey makes a mess but refiners picked up the pieces.
While the hurricane disruption may be a short-term blip, oil refiners have continued to outperform in the energy space.
Unlike the rest of the energy sector, oil refiners use crude oil as an input. Consequently, lower oil prices and higher prices on refined goods, like gasoline, are good for refiners.
CRAK is comprised of global companies involved in crude oil refining, including gasoline, diesel, jet fuel, fuel oil, naphtha and other petrochemicals. It holds 26 companies and top holdings include Reliance Industries 8.9%, Phillips 66 8.1%, Valero Energy 7.2%, Marathon Petroleum 6.4% and Jxtg Holdings 5.5%.