# Fuel stocks and strategic reserves and Refining and reforming

Energy flows from fuel stocks and strategic reserves to refining and reforming; their prices have moved together.

Source page: https://www.materialinsights.org/links/fuel-stocks-and-strategic-reserves-and-refining-and-reforming/

[Fuel stocks and strategic reserves](https://www.materialinsights.org/energy/e_fuel_stocks/) (energy) and [Refining and reforming](https://www.materialinsights.org/energy/e_refining/) (energy): 2 relationships.

## How they are linked

### 1. Energy flow

*Physical flow · 33% of flow · Fuel stocks and strategic reserves → Refining and reforming*

Refineries draw crude from tank farms.

- **33%** of Fuel stocks and strategic reserves's energy goes this way

### 2. Price link: product stocks

*Cost and price · Strong · Both ways*

Commercial stocks include diesel, petrol and jet fuel from refineries. The refinery products index correlates at 0.80 for monthly moves and 0.95 for yearly moves, since product prices are crude plus a margin.

- **0.80** monthly change correlation
- **0.95** 12-month change correlation
- **1.00** fitted elasticity

Built from the site data on production routes, energy flows, industry value chains, input-output tables and prices.