Caltex Australia Limited (ASX: CTX) updates on the margin

In respect of CRM sales from production for the month of June 2018, the company advises its realized lagged Caltex Refiner Margin (CRM). The unlagged CRM for June was US $8.63 bbl which is below the prior month figure of US$12.02 / bbl. The unlagged Caltex Singapore Weighted Average Margin for June was US$11.00 / bbl, which is below the prior month US$11.93 / bbl and below the prior year comparative figure of US $12.36 / bbl. Brent crude oil prices drove a favorable US$0.38/bbl pricing lag.

Included in the unaudited 2018 Half Year Profit Guidance released on 12 June 2018 due to lower actual refiner margins in the second half of June 2018, the June 2018 realized CRM was indicated to be below the forecast CRM of US$12.00/bbl, with higher crude premiums relating to a late June cargo, and lower yield due to a trip of the FCCU unit in the second half of June 2018.

The company stock was trading at a market price of $32.12 with a daily price change of $0.110 or a percentage change of 0.344%.

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