From Bloomberg America’s gasoline producers can run, but they can’t hide from a plunge in refining profit margins that sanctions against Venezuelan crude would only worsen, analysts said. The biggest U.S. refiners are expected to report strong fourth-quarter earnings thanks to profits from diesel processing in a strong U.S. economy, as well as a drop of about 40 percent in crude prices.
From Bloomberg U.S. light oil has become too cheap for Gulf Coast refiners to pass up. Fuel makers on the Gulf, home to the largest cluster of refineries in the world, processed oil with an average API gravity of 33.06 in October, according to the Energy Information Administration. The measure of oil density matches a record set in February, when
Lower prices for Iran’s oil mean better margins for refiners, competition for Russia Refineries across Europe are anticipating the return of Iranian crude oil to their operations, and the potentially higher margins as added crude pushes prices down further. Approximately 27.5% of Iran’s crude exports were to Europe in 2011, and refiners are excited to see the crude return, according
The EIA released a report showing its expectations for the refining sector based on U.S. oil production and whether or not crude oil export laws are reversed How increased production and U.S. export laws might affect refiners has been a topic of considerable debate, so much so in fact that the Energy Information Administration (EIA) decided that not only would
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
