Traders Eye Crack Spreads Between Crude Oil and Products

Chicago Energies Inc. options trader Peter Amandio is worried a widening spread between the products and crude could signal a coming bear trend for the space.
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While Libyan rebels kick up activity to prevent crude oil from leaving ports and reports emerge that supply is expected to rise in Iraq, one trader says he's more focused on the crack spread between crude oil and products. Chicago Energies Inc. options trader Peter Amandio tells TheStreet's Joe Deaux that he's worried a widening spread between the products and crude could signal a coming bear trend for the space. While Amandio says geopolitical tensions remain a key focus of his through the summer, he says he is keeping an eye on the technical movements for any opportunities to trade.