Gasoline Refining Margins Double on Outages: Energy Markets
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Refiners’ profit from turning oil into gasoline more than doubled this month as plants along the U.S. East Coast shut for repairs and imports from Europe declined in the aftermath of a French strike.
The return from processing crude into motor fuel, the so-called crack spread, fell to $10.72 a barrel today on the New York Mercantile Exchange after Hess Corp. said it finished repairs at its New Jersey refinery.