U.S. Refineries Profit From Cheap Sour Crude ...Middle East

Despite a decline in refining margins in recent months, the biggest American refiners continue to post bumper profits, helped by cheaper sour crude grades and lower costs for natural gas in the United States compared to Europe.    The top U.S. refiners have reported in recent days slightly lower profits and refining margins for the third quarter compared to the record-breaking earnings for the second quarter. Yet, the Q3 earnings and refining margins are still much higher than in 2021 and the pre-pandemic levels.  The strong…

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