U.S. Refiners Set to Report Slump in Profits on Lower Margins ...Middle East

America’s refiners are expected to report much lower profits for the third quarter compared to a year earlier, as refining margins have slumped to multi-year lows amid tepid fuel demand and increased global fuel supply. The 3-2-1 crack spread – which is a theoretical refinery crude yield to produce two barrels of gasoline and one barrel of diesel for every three barrels of crude input – slumped in the U.S. last month to $14.28 per barrel, the lowest level since the beginning of 2021, according to Reuters estimates. Analysts expect…

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Last updated : 23 October 2024 clock 04:20 PM

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U.S. Refiners Set to Report Slump in Profits on Lower Margins ...Middle East

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