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Solution Library
Trading of Marathon Petroleum (MPC) and ExxonMobil Oil (XOM)-Multiple Choice Question
Question
Consider the following oil prices:
|
ExxonMobil Oil (XOM) |
$71.75/Bbl |
|
Marathon Petroleum (MPC) |
$73.06/Bbl |
As an oil refiner, you are able to produce $76 worth of unleaded gasoline from one barrel of ExxonMobil Oil (XOM) crude oil. Because of its lower sulfur content, you can produce $77 worth of unleaded gasoline from one barrel of Marathon Petroleum (MPC)crude.
Another oil refiner is offering to trade you 10,150 Bbls of ExxonMobil Oil (XOM)crude oil for 10,000 Bbls of Marathon Petroleum (MPC)crude oil. Assuming you currently have 10,000 Bbls of MPC crude, the added benefit (cost) to you if you take the trade is closest to:
A) ($1,400)
B) $1,400
C) ($3,908)
D) $3,908
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