New York — US refinery margins gained traction last week, led by rising gasoline and diesel demand as regions reopened from coronavirus lockdowns – and just in time to refine April’s flotilla of Saudi cargoes just now arriving on US shores, an analysis from S&P Global Platts showed Wednesday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now However, that could be the last hurrah for such a large volume of US crude imports, as the economics dictate the buying of more local barrels, helping them cut higher working capital costs associated with imported crudes. Between May 6 and May 20, about 12.7 million barrels of Saudi Arabian crude arrived in the US, according to US Customs Data – a result of higher Saudi Arabian crude output in April as the kingdom sought to snag market share after the collapse of March’s OPEC+ meeting. The majority […]