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U.S. Refiners Are Riding High With Strong Margins, Tax Boost

  • Long-term investors bullish on refiners as tax reform kicks in
  • Med. margins swoon, Asia refiners see Chinese fuel influx
Gas Refinery
Photographer: Luke Sharrett/Bloomberg
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U.S. refiners are off to a strong start start in 2018, even as competitors elsewhere are hitting harder times.

Independent refiners are poised to cash in on President Donald Trump’s U.S. tax reform. Oil market fundamentals are also looking bright. Gulf Coast refiners ran at record-high levels in the last week of December. The party is set to continue as planned shutdowns will be 45 percent lower this quarter from a year ago, according to data compiled by Bloomberg.