Refiners Are Raking It In Amid Surge In Diesel Margins ...Middle East

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Refiners Are Raking It In Amid Surge In Diesel Margins
source : OILPRICE ( Middle East ) () 17
Diesel prices have been supercharged this summer, but as Bloomberg's Jack Wittels warns, the moves seem out of kilter with the relatively mundane fundamental drivers, creating the risk of a correction. Then again, it could just be a repeat of last year when diesel prices went suborbital due to lack of refining capacity, and led to a cash bonanza for refiners. Benchmark diesel futures in northwest Europe are currently worth about $35 more than ICE Brent, more than double the seasonal norm. This price difference -- known as the diesel…

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