Asia’s Refining Margins Rebound To Nearly 2-Year High

Weighed down by depressed refining margins earlier this year, refiners across Asia have recently reduced production and some closed down for maintenance, thus boosting Asian refining margins in the past three weeks to their highest since September 2017, Reuters reported on Friday, citing data from Refinitiv. In the last three weeks, the benchmark Singapore refining margin more than tripled to US$9.37 a barrel at Thursday’s close of Asian markets, from just US$2.74 per barrel on June 21. Profits for gasoline, diesel, naphtha, jet fuel, and…