Crack
A trading strategy used in energy futures to establish a refining margin.

Investopedia Says:
By simultaneously purchasing crude oil futures and selling petroleum product futures, a trader is attempting to establish an artificial position in the refinement of oil, created through a spread.

Related Terms:
Crush Spread
Sour Crude
Sweet Crude

• Accounts Receivable (AR)
• Accounts Receivable Financing
• Accredited Investor
• Accreting Principal Swap
• Accretion
• Accretive Acquisition
• Accrual Accounting
• Accrual Bond
• Accruals
• Accrued Expense
• Accrued Income
• Accrued Interest
• Accrued Market Discount
• Accumulated Earnings Tax
• Accumulated Other Comprehensive Income
• Accumulation
• Accumulation/Distribution
• Accumulation Period
• Accumulation Period
• Accumulation Plan
• Accumulation Unit
• Acid-Test Ratio
• Acquired Fund Fees And Expenses (AFFE)
• Acquired Fund Fees And Expenses (AFFE)
• Acquisition