Refiners see profit margins rise

01/13/2009 | Bloomberg

Energy Department research indicates refiner margins rose to their highest level in almost four months because a build in crude oil storage in Cushing, Okla., the delivery point of the WTI crude contract, has helped cause crude oil to fall faster than gasoline or heating oil futures. Refiners are getting incentive to "kick up runs and produce more products," says Andy Lipow of Lipow Oil Associates in Houston. "The prices will deteriorate to a point where it is economical to process WTI at the expense of some other crude."

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