Cruel summer for U.S. refiners as margins tank
Summer driving season is in full swing and American motorists are filling their tanks at a healthy clip, but that is not swelling the profit margins as much as usual Continue Reading
Hedge funds to U.S. refiners: produce more diesel, less gasoline
Hedge funds and other money managers are betting diesel and heating oil will take over from gasoline as the main driver of U.S. refinery profitability in the second half of Continue Reading
Oil Rally Threatened as Gasoline Supply Surge Swamps U.S. Demand
U.S. consumption revised lower while supply at seasonal high Money managers cut bullish crude bets to lowest since March American drivers’ seemingly insatiable thirst for gasoline is running into a Continue Reading
Newest U.S. refinery sold at a loss, hurt by oil price slump
A North Dakota refinery that was the first to be built in the United States since the 1970s has been sold at a loss, with profit elusive since it opened Continue Reading
Philadelphia Energy shopping East Coast’s largest refinery
Philadelphia Energy Solutions, the Carlyle Group-backed company that breathed new life into a “zombie” refinery complex on the East Coast is now trying to shed the investment in the face Continue Reading
Global oil majors look to shed refineries as crude prices rebound
Global oil majors Chevron Corp and Royal Dutch Shell Plc are putting small refineries on the auction block as they look to trim lower-margin assets in the face of headwinds Continue Reading
Gasoline appeal fades as refiners chase the next profit boost
Just as drivers hit the road for summer holidays, refiners are turning the taps down on gasoline as a global excess cuts into their profits. Refiners in Europe, Asia and Continue Reading
Perfect Oil Recipe Turns Sour for Refiners in Asia
After relishing a cocktail of cheap crude mixed with profits from fuel sales, Asia’s oil processors are facing their reckoning over a lack of restraint. Profits from turning crude into Continue Reading
Oil Refining Capacity Set To Surge, But Can It Boost Oil Prices?
A fresh wave of seasonal oil demand is expected to be unleashed when the global refining capacity increases to 101.8 million barrels per day (mb/d) in August, compared to 97.25 Continue Reading
As diesel price soars, U.S. refiners seize the moment, sell future output
U.S. diesel futures have soared about 40 percent in the last two months, prompting independent refiners to pounce, selling future output on the view that resurgent domestic demand and higher Continue Reading